Proposed changes to the Import One Stop Shop

The proposed reform to the EU Customs Union (See MIT News) includes proposed amendments to the VAT Directive, specifically to the Import One Stop Shop (IOSS):   extending the application of the deemed supplier rule (currently limited to distance sales of imported goods not exceeding EUR...

EU Customs Reform

The Commission has put forward proposals for a comprehensive reform of the EU Customs Union, which is being hailed as the most ambitious proposed reform since its establishment in 1968. The proposed measures are intended to simplify customs processes for business, cutting down on cumbersome customs...

Strategy for Malta’s Tax and Customs Administration launched

The Malta Tax and Customs Administration has launched the ‘Delivering Transformation Strategic Plan 2023-2025'. "A decision has now been taken to revitalise the integration strategy and process, working to achieve a ‘modern and adaptive’ Tax and Customs Administration for Malta that is truly aligned with the changing...

Guidance on penalties for late submission of VAT Recapitulative Statements

The Office of the CfR has issued guidance on the implementation of the increase in the administrative penalty, introduced with the Budget Measures Implementation Act (See MIT News 10 April 2023), imposed upon the late filing of recapitulative statements required to be made in terms...

Increased adminstrative penalty for failure to submit Recapitulative Statements

The Budget Measures Implementation Act of 4 April 2023 has increased the administrative penalty for failure to submit Recapitulative Statements to eur50 per month of  default (currently eur10), capped at eur600 per statement (currently eur120). The Act has also introduced an enabling provision (a new art. 55A)...

Budget Measures Implementation Act Published

The Budget Measures Implementation Act - Act XII of 2023 - was published on 4 April 2023. The Act revises the following legislation: the Customs Ordinance the Income Tax Act the Social Security Act the Motor Vehicles Registration and Licensing Act the Income Tax Management Act ...

MIT hosts the first VAT Practitioners’ Forum

The MIT hosted the first VAT Practitioners' Forum on 22 March 2023 at the Notch Conference Centre, Urban Valley Resort. The event, brought by the MIT’s Indirect Tax Technical Committee, featured two panel discussions as well as an opportunity for Q&A. The event was opened by...

ViDA discussions at the EU VAT Expert Group

The 33rd Meeting of the EU VAT Expert Group was held on 14th March 2023. The Malta Institute of Taxation was represented at the meeting by Chief Technical Officer, Sarah Cassar Torregiani. The focus of the meeting was the VAT in the Digital Age Proposals...