VAT zero-rate for certain supplies to non-profit making organisations

Amendments to the Fifth Schedule Parts 1, 3 and 4 of the VAT Act were introduced by LN 12 of 2024. The changes exempt (zero-rate) supplies to recognised non-profit making organisations of devices and aids, including related goods, which are essential to compensate or overcome...

CESOP Registration

The MTCA has announced that Registration of a PSP for CESOP purposes by a user (PSP representative or tax practitioner) having a Maltese e-ID is now available. View here. The registration deadline for payment service providers whose home Member State or host Member State is Malta...

CESOP Regulations published

Regulations transposing the provisions of Article 1 of Directive 2020/284 EC amending Directive 2006/112/EC as regards introducing certain requirements for payment service providers have been published by means of LN 272 of 2023. The Regulations, which enter into force on 1 January 2024, require payment service providers...

Budget Measures Implementation Bill

The Budget Measures Implementation Bill - a bill to implement Budget Measures for the Financial Year 2024 and other administrative measures - has been published. View here. The Bill proposes amendments to: the Customs Ordinance Cap. 37 the Social Security Act Cap. 318 the Value Added...

Malta Budget 2024

The Minister for Finance and Employment, the Hon Clyde Caruana, has delivered the Budget Speech for 2024. The following is an overview of some of the fiscal measures announced: A tax credit of a maximum of €500 on donations made by businesses to voluntary organisations...

EU VAT Gap report published

The EU Commission's annual VAT Gap Study, which measures the difference between theoretically expected VAT revenues and the amount actually collected, has revealed that in 2021 Member States lost around €61 billion in VAT. This is a significant improvement compared to €99 billion lost in...

DAC 7 reporting – Platform Operators – Technical Specifications

The MTCA has published the technical specifications which Platform Operators may refer to in order to integrate their IT systems to the MTCA’s reporting portal. The specifications as well as other guidance on the scope and application of the reporting requirements for Platform Operators are available...

New reduced VAT rate introduced

LN 231 of 2023 has introduced a reduced rate of 12% which will apply, with effect from 1 January 2024, to 4 categories of services: Custody and management of securities Management of credit and credit guarantees by a person or body other than those who...