ACT News
Latest news
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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Skills Development (2024) Regulations
By means of Legal Notice 54 of 2024, the Government of Malta has recently published new rules, to relaunch the Skills Development Scheme whose aim is to provide a cash grant or a tax credit to undertakings carrying out…
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Start-up Finance Regulations
By means of Legal Notice 55 of 2024, the Government of Malta has published new rules to aid small start-up undertakings. Such rules came into effect on the 1stt January 2024. Malta Enterprise has also published…
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Amendments to the Malta Residence and Visa Programme (MRVP) Rules
By means of Legal Notice 56 of 2024, the Government has made a number of amendments to the above-mentioned rules. A summary of the main changes can be found below. Residency Malta Agency can withdraw or withhold…
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Amendments to the Malta Permanent Residence Programme Rules
By means of Legal Notice 57 of 2024, the Government has made a number of amendments to the above-mentioned rules. A summary of the changes can be found below. Additional dependents of beneficiaries under the MPRP…
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Tax deadlines for the month of March 2024
The following are the tax deadlines for this month. 15th March 2024 – Submission of VAT returns together with the relative payment in respect of the quarter ending January 2024 31st March 2024 – Submission by employers…
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Widow’s and Survivor’s Pension to be exempt from income tax
By virtue of Legal Notice 19 of 2024, the Government has amended the Income Tax Exemption Order and has now included the folowing within the said order. The order mentions a number of allowances and benefits, payable…
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Double Taxation Agreement with Switzerland
By means of Legal Notice 15 of 2024, the Government of Malta has notified for general information that the Protocol amending the Agreement between the Government of Malta and The Swiss Confederation for the Avoidance of…
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Amendment to the Fringe Benefit Rules
By means of Legal Notice 298 of 2023, the Government of Malta has amended the fringe Benefit Rules. This amendment to the Fringe Benefits Rules establishes the home loan interest rate, rather than the Main Refinancing…
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Income from Artistic Activity Rules
By means of Legal Notice 8 of 2024, the Government of Malta has issued the above-mentioned rules in relation to income derived by individuals from a full or part time artistic activity in terms of Article 56(26A) of the…
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Amendments to the Deduction (Income from Employment) Rules
The Government of Malta has by means of Legal Notice 1 of 2024 amended the Deduction (income from Employment) Rules. The revised rules shall be applicable as from year of assessment 2025. These rules apply to…
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Amendments to the Tax Rebate (Pensioners) Rules
By means of Legal Notice 6 of 2024, the Commissioner for Revenue has amended the above-mentioned rules to increase the maximum rebate allowed against pension income earned on or after the 1st January 2024. With respect…
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Amendments to the Transfer Pricing Rules
By means of Legal Notice 9 of 2024, the Government of Malta has amended the Transfer Pricing Rules (hereinafter referred to as ‘the rules’). These rules shall apply for basis years commencing on or after 1st January…
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Exemption from tax on pension income
Since year of assessment 2023, the Government has gradually been exempting from tax, pension income derived by an individual on or after 1st January 2022 as per below so that by year of assessment 2027, all pension…
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Exemption of duty on acquisition of residential property in Gozo
By means of LN 316 of 2023, the Government of Mata has extended the deadline for persons to acquire ‘inter vivos’ residential property situated in Gozo by one month wherein, the duty otherwise chargeable in terms of the…
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Tax Credit (Construction Waste Recycling) 2020 – 2023 Rules
In 2020, the Government of Malta had by means of Legal Notice 218 of 2020 issued new rules granting a reduced rate of tax of 5% on chargeable income derived by persons during the calendar years 2020 to 2023 and who are…
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Tax Credit in respect of Therapy Costs provided to Children with Disability
The Government of Malta has published Legal Notice 296 of 2023 This LN amends LN 70 of 2023, by virtue of which any person who on or after 1st January 2023 incurs professional fees for the provision of approved therapy…
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Tax deadlines for the month of February 2024
The following are the tax deadlines for this month. 15 February 2024 – Submission of VAT returns together with the relative payment in respect of the quarter ending December 2023 15 February 2024 – Submission by…
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Tax deadlines for the month of January 2024
The following are the tax deadlines for this month. 15 January 2024 – Submission of VAT returns together with the relative payment in respect of the quarter ending November 2023 31 January 2024 – Submission by employers…
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Tax deductions in respect of Intellectual Property and Intellectual Property Rights
The Commissioner for Tax and Customs has announced that, with effect from the period covered by the year of assessment 2024, any expenditure of a capital nature incurred on Intellectual Property or Intellectual Property…
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Tax deadlines for the month of December 2023
The following are the tax deadlines for this month. 21 December 2023 – Payment of provisional tax due by companies and self-employed persons in respect of year of assessment 2024 31 December 2023 – Payment of Class II…