The EU Commission has launched a portal dedicated to the VAT rules for Small Enterprises (i.e. the 'small undertakings' under the Malta VAT Act). The new VAT rules for Small Enterprises will enter into effect on 1 January 2025. Under the new rules, businesses which are...
A bill to amend the VAT Act (CAP 406) has been published - view here. The changes proposed to the VAT Act, implement the changes to the VAT Directive (Dir 2006/112EC) introduced by Directive 2020/285 as regards the special scheme for small enterprises (See MIT News...
At the meeting of the ECOFIN Council of 5 November 2024, agreement was reached on the VAT in the Digital Age package (see MIT News 8 December 2022). After nearly two years of negotiations, agreement was reached on a compromise proposal which addresses: Digital Reporting Requirements Mandatory...
The Minister for Finance and Employment, the Hon Clyde Caruana, has delivered the Budget Speech for 2025. The following is an overview of some of the fiscal measures announced: → The income tax brackets for individuals (single, married and parent computations) will be widened, which is...
The Malta Tax & Customs Administration launched a comprehensive Client Satisfaction Survey on 19 September. The survey, which has been sent to taxpayers by email, is aimed at gathering feedback from both service providers and individual taxpayers. ...
The Minister for Finance has launched the Pre-Budget Consultation Document 2025 Chapter 2 of the document, under the heading 'Ensuring Sustainability in Public Finances', provides an update on the programme for the modernisation of the Maltese Tax and Customs Administration, including: the implementation of a digitised...
Further to the recent changes to the VAT exemption for healthcare services (See MIT News 15 September 2024), the MTCA guidelines on the healthcare exemption in item 11 of Part 2 to the Fifth Schedule of the VAT Act have been updated → MTCA GUIDELINES...
LN 228 of 2024 has revised the Fifth Schedule to the VAT Act, bringing within the scope of the VAT exemption for health and welfare the provision of medical care by a person in the exercise of a profession regulated by the Counselling Profession Act...
Item 11(b) of Part One of the Fifth Schedule to the VAT Act applies a zero rate of VAT (exemption with credit) to the supply of: “scheduled inter-island sea transport of passengers by authorised carriers and other scheduled sea transport of passengers recognised as such...
