The VAT Commitee Guidelines have been updated to add a guideline issued pursuant to the 116th Meeting of 12 June 2020 in connection with the application of the exemption (with credit) for Intra-EC Supplies in terms of article 138(1) of Directive 2006/112EC, when the customer...
The office of the CfR has notified that as from 1st November 2020 delegated or assigned CFR online services can only be accessed if authorised through CFR03 or CFR02. source: cfr.gov.mt ...
The VAT rules for financial and insurance services, in particular, the exemptions in article 135 of Directive 2006/112, are criticised for being complex, difficult to apply and for not having kept pace with the developments of new services in the sector. The European Commission had already...
In the 2021 Budget Speech of 19 October 2020 the Minister of Finance and Financial Services announced an increase in the threshold for small undertakings from €20,000 to €30,000. The current thresholds for registration as a small undertaking are set out in Part 1, item...
On 19 October 2020 the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the social measures announced: Cost of living increase of €1.75c; An additional day of leave for employees; Children’s...
Earlier this evening the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the fiscal measures announced. Tax Refund In 2021, eligible persons will receive a tax refund in an amount ranging from €45 to...
CFE Tax Advisers Europe has published an Opinion Statement responding to the European Commission Public Consultation on the special VAT scheme for travel agents. The CFE is of the view that there is a need to reform the TOMS scheme, for a number of reasons, including: ...
The OECD has published a report, with the participation of over 50 countries, which analyses the approaches and policy gaps across the main tax types (income, consumption and property taxes) in these countries in connection with virtual currencies. Taxing Virtual Currencies was prepared for presentation to the October 2020 meeting of...
On 5 June 2020, Malta requested an authorisation from the Commission to continue to derogate from Article 287 of the VAT Directive and to apply this increased threshold until 31 December 2024. In terms of Article 287 of the EC VAT Directive (Directive 2006/112/EC), Malta is...
