The OECD has outlined a number of measures that could be considered by Governments to support businesses in crisis as a result of the COVID-19 pandemic. These are not formal recommendations but suggestions made as part of a broader package of policy suggestions which include...

The Malta Gaming Authority has announced that the deadline for submission of audited financial statements has been extended to the end of October 2020 for licensees whose last concluded financial year ended, or ends, between December 2019 and March 2020.  Nevertheless, licensees are required to submit...

This week’s edition of the CFE Tax Top 5 looks at the following: EU Approves Temporary State Aid Framework; ECOFIN Meeting Conducted by Teleconference; OECD COVID-19 Tax Policy Response Recommendations; EU Plans to Introduce AML Regulation; Global Forum Holds First Peer Review Meeting. Download the...

LN 68 of 2020, the Adaptation of Subsidiary Legislation (Duty on Documents and Transfers Act) Order, 2020, which was published on 17 March 2020, is a 3-part Legal Notice amending subsidiary legislation enacted in termsof the Duty on Documents and Transfers Act. Part I: amendment...

The MFSA has announced that, in acknowledgement of the impact of COVID-19 on operators in the financial services sector, it shall be accepting a delay in compliance with March and April reporting deadlines for certain submissions/publications by specified operators. Click here to view the circular issued...

Guidelines on the tax deferral scheme announced by the Government earlier this week have been published by Malta Enterprise and the Office of the Commissioner for Revenue. The following is an overview of the Guidelines: Which taxes does the scheme apply to? Provisional tax, employee...

Following the publication of consolidated guidelines on the automatic exchange of financial account information in connection with the application of FACTA IGA, CRS and DAC II, earlier this year, the Office of the CfR has issued an updated version of the guidelines. Click here for a...

Act VIII of 2020 – The Budget measures Implementation Act – was published on 20 March 2020, implementing the key measures announced in October 2019 in the Budget for 2020. The Act amends: Part II:The Customs Ordinance Part III:The Income tax Act Part IV:The Immovable Property...

On 18 February 2020, the EU Council adopted a legislative package relating to the transmission and exchange of payment data in order to improve the fight against e-commerce VAT Fraud. This legislative package creates new reporting obligations for EU payment service providers, which will require...