Changes to the VAT small undertaking thresholds

Further to the announcement in the Budget Speech (see MIT News 21 October 2020), LN 463 of 2020 has introduced changes to the Sixth Schedule to the VAT Act in connection with the 'small undertaking' thresholds. Once the changes enter into effect, there will be two...

EU approves VAT exemption for covid vaccines and testing kits

New measures have been adopted which will allow EU Member States to put in place a temporary VAT exemption for vaccines and testing kits being sold to hospitals, doctors and individuals, as well as closely related services (see Commission Proposal of 28 October 2020). Currently, Member...

Taxes in Europe Database

Earlier this week the Malta Institute of Taxation participated in the 28th Meeting of the EU VAT Expert Group during which the Commission presented the Taxes in Europe Database - an online Database which offers structured information on around 650 taxes in the EU (including...

CFE Conference on Taxpayer Rights and Legal Certainty in the Digital Era

The CFE 13th European Conference on Tax Advisers’ Professional Affairs on the topic “Taxpayer Rights and Legal Certainty in the Digital Era” will take place ONLINE via Zoom on Monday 30 November 2020 from 3:30 to 5:00 CET. "The webinar conference will welcome tax experts and...

Malta authorised to apply increased threshold for small undertakings till 2024

In terms of Council Implementing Decision (EU) 2020/1662 of 3 November 2020 Malta's request to continue to apply a special measure derogating from Article 287 of Directive 2006/112/EC, and to increase the threshold for small undertakings, was acceded to. To date a €20,000 threshold applies to...

Second Time Buyers Scheme extended

LN 427 of 2020 published on 10 November 2020 has amended the Duty on the Acquisition of the Second Immovable Property to be used as Sole Residence (Exemption) Order [LN 364.17], implementing the announcement in the Budget for 2020, extending the application of the order...

VAT Commitee Guidelines updated

The VAT Commitee Guidelines have been updated to add a guideline issued pursuant to the 116th Meeting of 12 June 2020 in connection with the application of the exemption (with credit) for Intra-EC Supplies in terms of article 138(1) of Directive 2006/112EC, when the customer...

Assigned or delegated CfR services

The office of the CfR has notified that as from 1st November 2020 delegated or assigned CFR online services can only be accessed if authorised through CFR03 or CFR02.   source: cfr.gov.mt  ...

Review of VAT rules for FSI – EU consultation

The VAT rules for financial and insurance services, in particular, the exemptions in article 135 of Directive 2006/112, are criticised for being complex, difficult to apply and for not having kept pace with the developments of new services in the sector. The European Commission had already...

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