As of 1 July 2021 the VAT exemption which applies to importation of goods of low value (eur22 or less) will no longer apply. Malta VAT will be due on all goods imported from third countries. Suppliers and electronic interfaces selling goods which are imported...

This week’s edition of the CFE Tax Top 5 looks at the following: ECOFIN Ministers to Discuss VAT Rates EU Commission June Infringement Package Platform for the Collaboration on Tax Workshop on the Role of Taxation in Achieving Gender Equality EU Commission Adopts Implementing Regulation...

The European Commission has published an inception impact assessment on the initiative to reduce the debt- equity tax bias in the EU. This initiative, which was announced as part of the corporate tax reform proposal in the recent Communication for Business Taxation of the 21 Century (See MIT...

The EU Commission has adopted an amendment to Implementing Regulation (EU) 2020/194 as regards the exchange of records held by taxable persons or their intermediaries and the designation of competent authorities responsible for coordinating administrative enquiries. The amendments, which concern rules for the exchange of records...

Fiscal receipts will no longer be required to be issued in respect of supplies of goods and services which take place outside of Malta. This results from the new item 2B to the Thirteenth Schedule to the VAT Act introduced in  LN 241 of 2021 which...

This week’s edition of the CFE Tax Top 5 looks at the following: G7 Reach Historic Minimum Global Corporate Taxation Rate Agreement EU Council & Parliament Reach Provisional Compromise on CbCR Public Disclosure EU Launch Consultation on Fighting the Use of Shell Entities for Tax...

At their meeting of 5 – 6 June, Finance Ministers and Central Bank Governors of the G7 confirmed their support of the efforts underway through the G20/OECD Inclusive Framework to address the tax challenges arising from globalisation and the digitalisation of the economy and of the...

The European Commission has launched a public consultation on fighting the use of shell entities for tax purposes. The consultation closes on 27 August 2021. HAVE YOUR SAY – Click here to submit your feedback.

A provisional political agreement has been reached on the proposed directive on the disclosure of income tax information by certain undertakings and branches (the public country-by-country reporting – CBCR – directive). The agreed text requires multinational enterprises or standalone undertakings with a total consolidated revenue...