ACT News
Latest news
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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Increase in Tax Credits for Maltese Personal Pension Schemes
LN 117 of 2015, which was published on the 2 June 2015, has raised the maximum amount of tax credit provided for by Article 57(1)(b) of the Income Tax Act from €150 to €300. Through this provision, any tax payer will be…
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Stephen Balzan attends the EuropeFides Conference in Barcelona
Stephen Balzan, Tax and Corporate Services Partner of ACT attended the EuropeFides Conference held on the 26th and 27th June 2015 in Barcelona. The conference which was hosted by the Spanish member firm Mirabell Guerin,…
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Guidelines on Professional Health Services
The Maltese VAT Department has recently issued new Guidelines for the VAT treatment of Professional Health Services, which are intended to provide Guidance on the application of the VAT exemption for medical care…
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New appointment at ACT
ACT is proud to announce that with effect from 1st May 2015, Ms. Graziella Vella has been appointed as a new manager in the Accounts Department of ACT. Graziella is an accountant by profession after having obtained her…
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OECD releases discussion draft on BEPS Action 11
On April 16, 2015, OECD released a discussion draft under the BEPS (Base Erosion and Profit Shifting) project, more specifically concerning Action 11 (Establish methodologies to collect and analyze data on BEPS and the…
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OECD releases discussion draft on BEPS Action 8 (CCAs)
On April 29, 2015, OECD released a discussion draft under the BEPS (Base Erosion and Profit Shifting) project, more specifically concerning the Action 8 (Assure that transfer pricing outcomes are in line with value…
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New IRD Guidelines on the transfer of an individual’s residence
The Maltese Inland Revenue Department has issued a guideline on the amendment to Article 5(5)(c) of the Income Tax Act made through Act XIII of 2015 This provision introduced some limitations in respect of the exemption…
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The Budget Measures Implementation Act 2015
Following the presentation of the Budget by the Minister for Finance back in November of last year, the Budget Measures Implementation Act XIII has on the 30th of April 2015 been enacted by the Maltese Parliament. The…
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EC presents Tax Transparency Package against tax avoidance
The European Commission recently presented a package of tax transparency measures as part of its ambitious agenda to tackle corporate tax avoidance and harmful tax competition in the EU. A key element of this Tax…
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Stephen Balzan Tax Partner ACT interviewed by Gold Magazine
In January of this year, Stephen Balzan, Tax Partner of ACT was interviewed by Gold Magazine during the Annual General Assembly held by EuropeFides in Nicosia Cyprus. Gold Magazine, which is the international,…
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ACT represented at the ICE Totally Gaming Fair 2015 in London
Stephen Balzan and Denitza Dimitrova attended the ICE Totally Gaming Fair which took place in London from the 3rd to the 5th February 2015. For more information on the services we provide to Gaming Companies please…
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OECD / BEPS : OECD releases discussion drafts on BEPS Actions 4 and 14
OECD has released two more discussion drafts under the BEPS (Base Erosion and Profit Shifting) project, this time concerning Action 4 (Make dispute resolution mechanisms more effective) and Action 14 (Limit base erosion…
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Stephen Balzan Tax Partner of ACT becomes President of EuropeFides
After the General Assembly of EuropeFides held in Nicosia Cyprus on the 23rd and 24th January 2015, Stephen Balzan Tax Partner of ACT started his one year term as President of EuropeFides. The one year presidency will…
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Aircraft Registration Act – Consultation Document
In December 2014, Transport Malta issued a Consultation Document for a public consultation to be carried out regarding amendments which are being proposed to the Aircraft Registration Act (Chapter 503 of the Laws of…
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MFSA issues new rules under the Retirement Pensions Act 2011
On the 7th January 2015, the Malta Financial Services Authority issued new Rules and Regulations under the Retirement Pensions Act. These will have effect as from 1st January 2015. The purposes for which the new Pension…
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Bad debt relief claims
The Maltese VAT Department has in November 2014 issued guidelines with respect to the conditions which would need to be met by persons registered under Article 10 of the VAT Act to successfully make a claim for bad debt…
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Calculation of the value of immovable property for stamp duty purposes
The introduction of the Duty on Documents and Transfers (Amendment) Rules of 2014 brought about a number of changes to the Duty on Document and Transfers Act in particular on the manner in which the value of immovable…
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Changes to the rules in respect of the taxation of employment income
Changes to the rules in respect of the taxation of employment income derived by individuals employed in the development of innovative and creative products The Principal Rules By means of L.N. 462 of 2014, the…
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EU Commission to propose directive for automatic EOI regarding tax rulings
European Commission president Jean-Claude Juncker has stated that the Commission plans to propose a new directive regarding the automatic exchange of information on tax rulings between EU countries. This would build…
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The new Personal Retirement Scheme Rules 2014
Earlier on this year, the Maltese Government launched the Third Pillar Pension Scheme, paving the way for low income earners to start saving for their retirement. A new Article 57 has been introduced to the Income Tax…