2022 version of the Combined Nomenclature

The European Commission has published the 2022 version of the Combined Nomenclature (CN codes), which reflects the latest version of the Harmonised System (HS). The Combined Nomenclature inter alia determines which rate of customs duty applies on the importation of goods.   source: ec.europe.eu...

EU Fiscalis Meeting

As a Member of the EU Commission's VAT Expert Group, the Malta Institute of Taxation, represented by Sarah Cassar Torregiani, is participating in the Fiscalis Meeting on VAT in the Digital Age. Representatives from Member States tax authorities, select industry stakeholders and Members of the VAT...

Budget Measures Implementation Bill 2021

Following the Minister for Finance’s budget speech delivered on 11 October 2021, a Bill entitled “An Act to implement Budget measures for the financial year 2022 and other administrative measures”, detailing some proposed amendments to the relevant laws, has been published. The Bill can be downloaded from...

Focus on enforcement – interest on overdue taxes

In his Budget Speech for 2022 the Minster for Finance and Employment yesterday announced a change to the administrative practices around the granting of a remission for interest on overdue taxes pursuant to SL 372.26. In terms of the legislation the Commissioner may only remit interest...

Malta Budget for 2022 – Highlights

Earlier this evening the Minister for Finance and Employment, the Hon Clyde Caruana, delivered the Budget Speech for 2022, which put social measures and measures addressing sustainability at the forefront. The following is an overview of some of the fiscal measures announced: An increase in the...

Malta Budget 2022

Earlier this week it was announced that the Budget for 2022 will be presented on Monday 11 October 2022....

Law enforcement access to financial information

LN 312 of 2021, published on 26 July 2021, has transposed EU Directive 2019/1153 which lays down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of serious criminal offences, including tax evasion....

VAT: Register for the OSS

The Mini One Stop Shop will cease to apply as of today, 30 June 2021. With effect from 1 July 2021, the One Stop Shop (OSS) will apply to local businesses supplying B2C services which take place outside Malta and making distance sales of goods...

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