Act XXXV of 2023 has amended the definition of 'Malta' for the purposes of the VAT Act (CAP 406) to include the 'Exclusive Economic Zone' and now reads: "the Island of Malta, the Island of Gozo and the other islands of the Maltese Archipelago, including...
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...
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...
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...
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...
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...
The Office of the Commissioner for Tax & Customs has published guidelines on the interpretation and application of the exemptions for healthcare and medical professional services provided for in items 1 and 2 of Part 2 to the Fifth Schedule of the VAT Act. The guidelines...
The Malta Tax & Customs Administration (MTCA) has announced that Version 1.1 of the DAC 7 guidelines has been issued with updates to Section 6.1. View the updated guidelines here....
The Malta Tax and Customs Administration has announced a one-time extension of the 15 August 2023 deadline for submission of VAT Returns by persons registered under article 10, to 31 August 2023. The extension applies to the VAT Returns due, as well as payments. source: cfr.gov.mt...
