ACT News
Latest news
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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Notice to Employers – COVID Wage Supplement: Payroll Implications
The Commissioner for Revenue has on the 4th April 2020 issued a notice to all employers who will be receiving a wage supplement from the Government to support the wages of their employees. The notice clarifies that the…
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Amendments to the Qualifying Employment in Aviation (Personal Tax) Rules
By means of LN 120 of 2020, the Government of Malta has made a number of amendments to the rules by virtue of which individuals deriving income from a qualifying contract of employment shall have the option to benefit…
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Extended deadline for the submission of Financial Account information by Malta Reporting Financial Institutions
Due to the challenging circumstances as a result of the Covid-19 pandemic, an extension for the submission of the report containing Financial Account information relating to the reporting year 2019 has been granted.…
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COVID-19: Benefit to Vulnerable Persons ordered to stay at home
The application forms for vulnerable persons who are ordered to stay at home have been issued by the Department of Social Security. Such vulnerable persons, who are employed in the private sector, who after the 27th…
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Amendments to the Commissioner for Revenue Act
A document that is certified by the Commissioner, or by a person authorised by him for this purpose, as being a true reproduction of an electronic copy, prepared by or under the authority of the Commissioner, that was…
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CFR Notice – Disclosure of Beneficial Owners
Further to the changes relative to the beneficial ownership register brought about by the 5th AML Directive), transposed into Maltese legislation by means of Legal Notice 26 of 2020 (Prevention of Money Laundering and…
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Revised Tax Refund Claim Application Form
A revised refund claim application form relative to refunds claimed in terms of Article 48(4) and 48(4A) of the Income Tax Management Act,will be circulated shortly. Such revised application form will be the only valid…
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COVID-19 – Extended deadlines for Teleworking Activities Schemes
Malta Enterprise has extended the call for the Facilitation of the Teleworking Activities from 31st March 2020 to Friday, 8th May 2020. The grant will be awarded against 45% of the eligible cost which must be incurred…
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COVID-19 – Mandatory Quarantine Leave
The online applications for the €350 grant to employers for each employee on mandatory quarantine leave have been published on the website of Malta Enterprise (ME). In processing this application form, Malta Enterprise…
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COVID-19 – Social Measures
Further information in relation to Additional Unemployment Benefits, Parent Benefits and Persons with Disability Benefits, which have been announced by the Government last week, are now available on the website of the…
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COVID-19: Facilitation of Teleworking Activities
After a number of fiscal support measures were announced, intended to aid employers and self-employed persons that are negatively impacted by the COVID-19 outbreak, the application form for businesses to receive a grant…
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COVID-19: Tax Payment Deferral Scheme Application Form
After a number of fiscal support measures were announced, intended to aid businesses that are negatively impacted by the COVID-19 outbreak, the online application form through which companies and self-employed persons…
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COVID 19 – Extension of period for filing FIAU’s Risk Evaluation Questionnaire (REQ)
As part of the measures taken by various Government authorities in response to the Coronavirus outbreak, the FIAU has, on the 16 March 2020, announced that it will be granting subject persons an extension up to 4 May,…
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COVID – 19 – Teleworking Grant Scheme
On the 16th March 2020, Malta Enterprise issued new Guidelines under the Business Development and Continuity Scheme to facilitate the possibility for employers to provide teleworking arrangements to their employees who…
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Double Taxation Treaty with Belgium
By means of Legal Notice 60 of 2020, the Malta Government has announced that the Double Taxation Relief on Taxes on Income with the Kingdom of Belgium (Amendment) Order, 2013 amending the Double Taxation Relief on Taxes…
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Tax Relief for Coronavirus-Hit Businesses
Business owners and self-employed people whose trade has been most affected by a coronavirus-sparked slump will have all tax and social security payments due for March and April postponed. The payments will instead be…
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Mitigation Procedures Regarding COVID-19
We would like to inform our esteemed clients, suppliers and business associates that with effect from Monday 16th March 2020 and until further notice, partners and staff will be working behind closed doors. This means…
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Transposition of the Tax Intermediaries Directive
The Cooperation with Other Jurisdictions on Tax Matters Regulations have been revised by virtue of Legal Notice 342 of 2019 which was published on 17 December 2019. The amendments, transpose the provisions of Council…
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Amendment to the Tax Rebate (Pensioners) Rules
The Government of Malta has recently published Legal Notice 326 of 2019 to increase the maximum amount of tax rebate available to persons chargeable to tax at the rates specified under article 56(1)(a) and (b) of the…
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Amendments to the NID Guidelines
The Guidelines in relation to the Notional Interest Deduction (NID) rules have been revised and a new paragraph has been added to the rules. The new paragraph (xii) entitled: Attribution of the Deemed Interest Income on…