ACT News
Latest news
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
-
New double taxation agreement with Andorra
By means of LN 118 of 2018, the Government has published a new double taxation agreement with The Principality of Andorra.Of particular interest is that Articles 10, 11 and 12 dealing with dividends, interest and…
-
Two new double taxation agreements enter into force
The Government of Malta has notified that the Agreements between the Maltese Government and the Governments of the Republic of Azerbaijan and The Socialist Republic of Viet Nam, for the Avoidance of Double Taxation and…
-
Leading multi-cryptocurrency company OKEx is expanding to Malta
OKEx, a leading digital asset exchange that provides global users with a robust digital-asset-only exchange and currently offers token-to token and futures-like trading will be moving to Malta. The company is currently…
-
Proposed EU Directive on Tax Intermediaries
On 13 March 2018, the Council has reached agreement on a proposal which is aimed at boosting transparency in order to tackle aggressive cross-border tax planning. The draft directive will require intermediaries such as…
-
European Commission launches the EU Blockchain Observatory and Forum
The Commission has recently launched the EU Blockchain Observatory and Forum with the support of the European Parliament. This Forum will highlight key developments of the blockchain technology, promote European actors…
-
MGA publishes a consultation document on a Sandbox Environment for DLT and VCs
The Malta Gaming Authority has issued a consultation document which provides guidance on the use of Distributed Ledger Technology and on the acceptance of Virtual Currencies through the implementation of a Sandbox…
-
MGA Publishes Directive on Start-Up Undertakings
The Malta Gaming Authority he ‘MGA’), following the publication of the Gaming Licence Fees Regulations has issued a directive in order to lay down the procedure whereby an entity may be recognised as a start-up…
-
Extension for a reduced rate of stamp duty for family businesses
The incentive consisting of a reduced rate of stamp duty payable on the transfer of shares in family businesses and the transfers of commercial property that has been used in a family business has been extended for a…
-
ACT to organise a seminar in Gozo on the General Data Protection Regulation (GDPR)
ACT will be organising a second seminar on the GDPR, this time in Gozo. This will be organized in collaboration with the Gozo Business Chamber (GBC) on the 17th April 2018 at 2pm. The aim of the seminar is to provide…
-
ACT becomes a member of the International VAT Association (IVA)
We are pleased to announce that ACT has become a member of IVA. IVA is a leading independent body on international VAT issues, representing the interests of businesses and advisers involved in VAT or equivalent turnover…
-
Income tax return extensions for the year 2018
The Commissioner for Revenue has notified that the deadlines for the electronic filing of income tax returns for companies have been extended as follows: Tax Return Filing DateElectronic Filing Extended To31 March 20182…
-
Assistance to disadvantaged persons to commence their own business
By means of LN 66 of 2018, the Government of Malta has issued new rules which are aimed at providing assistance to disadvantaged persons to start their own business. The manner in which such assistance will be provided…
-
Tax deduction for transportation costs
By means of LN 67 of 2018, the Government of Malta has issued new rules which provide for a tax deduction to undertakings carrying out a trade or business that incur costs for the transportation of employees to and from…
-
Amended guidelines regarding VAT treatment of yacht and aircraft leasing
The Commissioner for Revenue has published an amended version of the guidelines regarding the VAT treatment of yacht and aircraft leasing. In terms of the amended guidelines, the manner in which the period that the…
-
Determination of the Reference Rate for the purposes of the Notional Interest Deduction (NID) Rules
The Inland Revenue Department has issued a guideline for the purposes of determining the reference rate in connection with the NID rules. In terms of the Rules, the interest on risk capital is calculated by multiplying…
-
Distributed Ledger Technology – Malta Legislative Framework
On 16th February 2018, the Government of Malta launched a consultation period on the establishment of an Authority to be known as the Malta Digital Innovation Authority (MDIA) and the framework for the certification of…
-
Amendments to the Tax Accounts (Income Tax) Rules
By means of Legal Notice 38 of 2018, the Government of Malta has amended the Tax Accounts (Income Tax) Rules which were originally issued by means of Legal Notice 79 of 2008 as subsequently amended by various legal…
-
Amendments to the Qualifying Employment in Aviation (Personal Tax) Rules
By means of Legal Notice 378 of 2017, the above-mentioned rules (which were originally issued by means of Legal Notice 177 of 2016 as amended by Legal Notice 1 of 2017) were once again amended. The rules allow for the…
-
The FIAU and the MGA publish a revised consultation document on the application of AML and CFT obligations to the remote gaming sector
The Financial Intelligence Analysis Unit (FIAU) and the Malta Gaming Authority (MGA) have issued a revised Consultation Document on the application of anti-money laundering and combatting the funding of terrorism…
-
ACT hosts the general meeting of EuropeFides in Malta
On the 26th and 27th January 2018, ACT hosted the Annual General Meeting of EuropeFides at the Westin Dragonara Resort in St. Julian’s Malta. EuropeFides is an international network made up of lawyers, tax advisors,…