ACT News
Latest news
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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Micro Loan Guarantees
By means of LN 143 of 2017, the Micro Loan Guarantee Regulations were amended so that family businesses as defined in the Family Business Act may also be able to benefit from such loan guarantees. Applications for…
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Tax Credits for Micro Enterprises and the Self-Employed
By means of LN 140 of 2017, the Tax Credits for Micro Enterprises and the Self-Employed Regulations were amended so that family businesses as defined in the Family Business Act may with effect from year of assessment…
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Business Enhance ERDF Grant Schemes – Cut off dates
The Measures and Support Division, as the Intermediate Body responsible for administering aid schemes for enterprises under the European Regional Development Fund (ERDF 2014-2020) has announced further cut off dates for…
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OECD releases additional guidance on the implementation of CbC reporting (BEPS Action 13)
On April 6, 2017, the OECD released additional guidance to provide essential information on implementation of the Country-by-Country (CbC) reporting (BEPS Action 13). The updated CbC guidance document contains…
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ACT approved as Corporate Advisor for MSE’s Prospects platform
ACT Prospects Limited, a company which forms part of the ACT group of companies has recently been approved by the Malta Stock Exchange to act as a Corporate Advisor on its ‘Prospects’ platform. Please see notice…
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Provision of a new service through the use of digital marketing
ACT is proud to announce that Growth Gurus has become one of its corporate partners. ACT and Growth Gurus have agreed to collaborate together to advise and assist their respective clients in growing their business…
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MGA introduces new regulations for Skill Games
Earlier on this year, the Government of Malta has issued Legal Notice 31 of 2017 entitled Skill Games Regulations, 2017. These new regulations are applicable to skill games that provide that all skill games organised in…
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New philanthropic organizations exempt from income tax
By means of Legal Notice 65 of 2017, the Minister of Finance has named the following organizations engaged in philanthropic work as being exempt from income tax in terms of Article 12(1)(e) of the Income Tax Act.…
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Deduction claim on fees paid for Cultural and Creative Courses
Individuals who during the year 2016, paid fees in respect of their children under sixteen years of age for cultural and creative courses, can claim a deduction against their own personal income up to a maximum of €100…
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Deduction claim on fees paid for school transport
Parents who during the year 2016, paid transport fees in respect of their children under sixteen years of age attending church schools or private schools are allowed a deduction against their own income for the year, up…
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Deduction claim on fees paid for sports activities
Individuals who during the year 2016, paid fees in respect of their children under sixteen years of age who attended sports activities, can claim a deduction against their own personal income up to a maximum of €100 per…
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Tax rebate for pensioners
By means of LN 22 of 2018, the Government has amended LN 42 of 2017 which had originally introduced new tax rebates for pensioners in line with what was announced in the Budget Speech for 2017. This new measure will…
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Acquisitions of immovable property situated within an Urban Conservation Area
By means of Legal Notice 3 of 2017, the rules applicable to the stamp duty payable on the acquisition of immovable property situated within a development area known as an Urban Conservation Area or a property which is a…
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Amendments to the Donations to the Malta Community Chest Fund Rules
By means of Legal Notice 2 of 2017, the rules applicable to donations made to the Malta Community Chest Fund (MCCF) were amended so that these would apply to donations made until 31st December 2016. Before this…
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Amendments to the Highly Qualified Persons Rules
By means of Legal Notice 7 of 2017, the rules applicable to the taxation of employment income derived by certain Highly Qualified Persons as defined were amended. By virtue of such rules, certain highly qualified…
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Extension of the Malta VAT exemption
In terms of Legal Notice No. 383 of 2016, the VAT exemption of investment scheme management services as provided by item 3(6), Part Two of the Fifth Schedule to the Malta VAT Act was amended. As a result of this…
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Maltese Passport is the Ninth Most Powerful Passport in the World
Passport Index has declared the Maltese passport as the ninth most powerful in the world in its 2016 ranking of passports worldwide. Passport Index ranks the world’s passports by analysing which passports offer the most…
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New tax guidelines issued in connection with business interests outside Malta
The Inland Revenue Department has recently issued new tax guidelines in connection with the stamp duty determinations given to companies in terms of Article 47 of the Duty on Documents and Transfers Act (hereinafter…
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New VAT rules for cross border E-commerce
On the 1st December 2016, the European Commission (EC) published its legislative proposal to change the VAT rules for online sales of goods and services in Europe, over the 2018-2021 period. The main aims of the…
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The Proposed 5th Anti-Money Laundering Directive
The European Commission (EC) has proposed amendments to the Fourth Anti-Money Laundering Directive (4th AMLD) to further strengthen EU rules on anti-money laundering, to counter terrorist financing and increase…