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Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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Transfer Pricing Rules in Malta
The Commissioner for Revenue has issued a public consultation document regarding draft Transfer Pricing Rules.The consultation document can be accessed by clicking here. The consultation period closes on 28th February…
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Exemption from tax on property transfers
The Government of Malta has by means of Legal Notice 419 of 2021 published new rules entitled ‘Exemption from tax on property transfers (set-off of tax arrears) Rules’. The legal notice is applicable to any person who…
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BUDGET MEASURES IMPLEMENTATION BILL 2022
Following the Budget speech by the Minister of Finance on the 11th October 2021, a Bill has been presented in order to implement Budget Measures for the financial year 2022 and other administrative measures. The…
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Budget 2022 – 50% reduction in stamp duty and tax on capital gains
Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. The Minister announced that stamp duty and tax on capital gains on acquisitions and disposals of property (up to…
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Budget 2022 – Grant to first time buyers
Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. First time buyers buying qualifying properties will receive a grant of €15,000, which will be increased to €30,000…
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Budget 2022 – VAT refunds on qualifying properties
Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. With effect from 12 October 2021, persons who will own or who already own qualifying properties, may benefit from…
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Budget 2022 – Cost of Living Allowance
Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. Cost of living adjustment will be Eur1.75 per week. Which will be applicable to all employees, pensioners and…
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Budget 2022 – Exemption on pension income
Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. Pensioners will be entitled to a higher pension income which will be exempt from tax. The maximum amount of…
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Budget 2022 – Tax free pension income
Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. In a bid to encourage pensioners to continue working beyond retirement age, with effect from the year 2022 and…
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Filing of financial statements with the MBR by shipping companies
The Malta Business Registry has just informed practitioners that the declaration by the directors that must be attached with the financial statements to be filed in accordance with Regulation 64 (1) of the Merchant…
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Extension to the exemption from tax on certain property transfers rules
By means of LN 325 of 2021, the Government of Malta has amended the above-mentioned rules, which were originally issued in 2020 after announcing a recovery package with the aim of restoring the economy following the…
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Extension to the exemption of duty in terms of Article 23 order
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Amendments to the Malta – Switzerland DTA
By means of LN 198 of 2021, the Government of Malta has amended the treaty with The Swiss Confederation for the avoidance of double taxation. The amendments will come into effect on such date as may be announced in the…
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Budget Measures Implementation Act – Changes to the Duty on Documents and Transfers Act
The Malta Government has on the 16th April 2021, by means of ACT XVIII of 2021 published and enacted a new Act which will be implementing the budget measures for the year 2021. The budget measures were announced by the…
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Budget Measures Implementation Act – Changes to the Income Tax acts
The Malta Government has on the 16th April 2021, by means of ACT XVIII of 2021 published and enacted a new Act which will be implementing the budget measures for the year 2021. The budget measures were announced by the…
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Transfer Pricing – Enabling Provision
The Budget Measures Implementation Act has introduced an enabling provision in the Income Tax Act which empowers the Minister of Finance to enact rules in relation to transfer pricing. The new article 51 of the Income…
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Regeneration Schemes- New Set of Economic Measures Announced
Earlier today, the Prime Minister of Malta together with the Minister for Energy, Enterprise and Sustainable Development announced a new set of business support measures. The aim of such measures are: to provide direct…
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Amendment to the Exemption from Tax on Certain Property Transfers Rules
By means of LN 129 of 2021, the Government of Malta has amended the above-mentioned rules, which were originally issued in 2020 after announcing a recovery package with the aim of restoring the economy following the…
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Amendment to the Exemption of Duty in terms of Article 23 Order
By means of LN 130 of 2021, the Government of Malta has amended the above-mentioned rules, which were originally issued in 2020 after announcing a recovery package with the aim of restoring the economy following the…
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AMENDMENTS TO THE REVENUE ACTS
Act VIII of 2021 was published on 12 March 2021 which introduces a series of amendments to a number of fiscal laws such as the Income Tax Act, the Income Tax Management Act, the Duty on Documents and Transfer Act and…