ACT News
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Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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Taxation of Investment Committee Members’ Fees
The Institute of Financial Services Practitioners (IFSP) has recently set out its understanding of the tax treatment derived by non-Maltese resident members of an Investment Committee (‘IC’) of a Maltese licensed…
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Reduced rate of tax on rental income derived from immovable property
The Budget Measures Implementation Act 2014 provides for a reduced rate of tax of 15% on gross rental income derived from residential immovable property. The reduced rate of tax is a final tax and individual lessors…
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Stephen Balzan attends the half yearly meeting of EuropeFides in Milan
Stephen Balzan, the partner in charge of the firm’s tax and corporate services attended the half yearly meeting of EuropeFides which was held on the 4th and 5th July 2014 in Milan. EuropeFides is an organization made up…
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Asset Registration Programme
The Government of Malta has in June 2014 launched the Asset Registration Programme. This will provide individuals with the possibility to register any undeclared assets. Such assets can be situated both in Malta and…
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Shift of burden of proof on to the tax authorities
A recent decision by the Administrative Review Tribunal (ART) involving additional tax imposed by the Maltese tax authorities has shifted the burden of proof on the tax authorities, while tax payers will no longer be…
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New Malta-Russia Double Tax Treaty
A new double tax agreement between Malta and Russia has now entered into force. The agreement was signed on 23 April 2013. The treaty provides for reduced rates of withholding taxes of 5% on payments of interest and…
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Malta signs tax treaty with Moldova
Malta and Moldova signed a double taxation agreement. The agreement was signed on 10 April 2014 between Foreign Minister George Vella and his Moldovian counterpart Natalia Gherman.