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The Budget measures Implementation Bill [Bill No. 173] is proposing the introduction of a new exclusion from deductions permitted under the Income Tax Act (CAP 123). It is being proposed that the following be added to the list in article 26 of the Act: “(i)...
Pursuant to the announcement in the Budget for 2021 of a flat rate of 15% on royalties earned by authors (See MIT news 19 October 2020), article 15 of the Budget Measures Implementation Bill sets out the proposed new article 31F of the Income Tax...
This week’s edition of the CFE Tax Top 5 looks at the following: CJEU Decision in Cross-Border Exchange of Information Cases OECD Digital Tax Economic Impact Assessment Webinar Save the Date: CFE Professional Affairs Virtual Conference on Taxpayers Rights – 30 November EU Commission Commences...
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...
In the 2021 Budget Speech of 19 October 2020 the Minister of Finance and Financial Services announced an increase in the threshold for small undertakings from €20,000 to €30,000. The current thresholds for registration as a small undertaking are set out in Part 1, item...
This week’s edition of the CFE Tax Top 5 looks at the following: Save the Date: CFE Professional Affairs Virtual Conference on Taxpayers Rights – 30 November EU Commission Prolongs Temporary State Aid Framework OECD Digital Tax Economic Impact Assessment Webinar AG Kokott Delivers Opinion...
On 19 October 2020 the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the social measures announced: Cost of living increase of €1.75c; An additional day of leave for employees;...
Earlier this evening the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the fiscal measures announced. Tax Refund In 2021, eligible persons will receive a tax refund in an amount...
The Office of the CfR have issued an alert to VAT registered persons in connection with a letter from an entity called ‘VRE’, asking the recipient to input their VAT number, sign and return such letter to a PO Box address in Germany. Click here for details....