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Latest news
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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MFSA issues a circular to issuers of Virtual Financial Assets
The Malta Financial Services Authority (MFSA) has recently issued a circular to issuers of Virtual Financial assets (VFAs) which is particularly relevant to those: availing themselves of the transitory period under…
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Tax deductions in respect of donations made to the Community Chest Fund
By means of Legal Notice 321 of 2018, the Government of Malta has announced that the rules applicable to tax deductions in respect of donations made to the Community Chest Fund have been extended to donations made up to…
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Reduced rate of stamp duty on property situated with a UCA or scheduled by the PA
By means of Legal Notice 413 of 2018, the Government of Malta has announced that the reduced rate of stamp duty amounting to Eur2.50 for every Eur100 or part thereof, on the acquisition of immovable property situated…
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Reduced rate of stamp duty on the donation of shares and property used for business purposes
By means of Legal Notice 412 of 2018, the Government of Malta has announced that the reduced rate of stamp duty amounting to Eur1.50 for every Eur100 or part thereof, on the following donations, has been extended by…
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Tax agreement with Botswana enters into force
By means of Legal Notice 433 of 2018, the Government of Malta has announced that the Agreement between Malta and the Republic of Botswana for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with…
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Malta deposits its instrument of ratification of MLI with the OECD
On 18 December 2018, Malta deposited its instrument of ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (‘MLI’) with the OECD, together…
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Malta implements the EU Anti-Tax Avoidance Directive (ATAD)
By means of LN 411 of 2018 Malta implements the ATAD which contains four measures in relation to interest limitation, exit taxation, GAAR and controlled foreign company rules. These rules apply to all companies as well…
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Guidelines in Relation to the Taxation of DLT Assets
The Commissioner for Revenue has on the 1st November issued the following guidelines in relation to the tax treatment of DLT Assets: Income tax treatment of transactions or arrangements involving DLT assetsDuty on…
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MFSA issues Chapter 2 of Virtual Financial Assets Rulebook
The Malta Financial Services Authority has published Chapter 2 of the Virtual Financial Assets Rulebook which is applicable to issuers of Virtual Financial Assets. The document covers topics such as general scope and…
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MFSA publishes a number of FAQs about the Virtual Financial Assets (VFA) framework
The MFSA has published a document with a number of frequently asked questions in relation to the VFA framework. It provides key information on the VFA framework, on the classification of DLT assets, VFA agents, Initial…
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The MGA publishes Guidelines on its Sandbox Framework for the acceptance of VFAs and the use of DLT within the Gaming Industry
The Malta Gaming Authority has published details on its Sandbox Framework for the acceptance of Virtual Financial Assets and Virtual Tokens and the use of Innovative Technology Arrangements (ITAs) within the gaming…
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Two new laws related to DLT come into force
By means of Legal Notices 306 and 307 of 2018 the Government of Malta has established the 1st November 2018 to be the date when the Innovative and Technology Arrangements and Services Act, 2018 and the Virtual Financial…
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Circular to persons involved in DLT asset activity and services
The MFSA has on the 20th September, 2018 published a self-explanatory form to serve as a Data Collection Exercise in relation to DLT asset activity and services being carried in or from within Malta and as a…
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MDIA issues Guidance Notes for Systems Auditors
MDIA issues Guidance Notes for Systems Auditors The Malta Digital Innovation Authority (MDIA) issued its first set of guidance notes aimed at assisting Service Providers and Innovative Technology Arrangements (ITA)…
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Family Business Breakfast in Gozo
A Family Business Breakfast was organised by the Gozo Business Chamber on the 18th September 2018 at Hotel Ta’ Cenc & Spa in Sannat, Gozo. A number of well-known business persons took part in a panel discussion wherein…
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Consultation Paper on the VFA Rules for VFA Service Providers
The MFSA has on the 31st August 2018 published the ‘Consultation paper on the Virtual Financial Assets Rules for VFA Service Providers’. These Rules will eventually be incorporated as Chapter 3 of the Virtual Financial…
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Increase of Threshold for Small Traders
As announced in the Budget for 2018 and by means of LN 163 of 2018, the turnover threshold under which service providers remain eligible for registration under article 11 has been increased from €14,000 to €20,000 in a…
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OECD’s Multilateral tax treaty instrument enters into force
The OECD’s Multilateral tax treaty instrument (“MLI”) entered into force on 1 July 2018 after the ratification of the said instrument by 5 countries, namely Austria, the Isle of Man, Jersey, Poland and Slovenia. There…
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Malta Digital Innovation Authority set up with effect from 15 July 2018
By means of Legal Notice 250 of 2018, the Minister for the Digital Economy has established the 15th of July, 2018 as the date on which the provisions of the Malta Digital Innovation Authority Act shall be deemed to have…
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MFSA Publishes the Financial Instrument Test
The Malta Financial Services Authority has recently published the Financial Instrument Test, which will apply to issuers offering DLT assets to the public as well as to individuals providing services in the context of…