ACT News
Latest news
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
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Tax deadlines for the month of January 2023
The following are the tax deadlines for this month. 31 January 2023 – Submission by employers of Form FS5 for the month of December 2022 together with the relative payment of FSS, national insurance and maternity fund…
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CFR CLARIFICATION ON ‘RECOGNISED STOCK EXCHANGES’
The Office of the CfR has in November 2022 issued a guidance note which clarifies which stock exchanges are to be recognised by the CfR for the purposes of the Income Tax Acts and the Duty on Documents and Transfers…
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Transfer Pricing Rules
By means of LN 284 of 2022, the Government of Malta has published the Transfer Pricing Rules, which will be effective as from 1st January 2024. For a summary of the main provisions of such rules, please read our article…
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FIAU publishes a new set of Implementing Procedures for Accountants and Auditors
The Financial Intelligence Analysis Unit (FIAU) has in December 2022, published a new set of Implementing Procedures – Part II, aimed at providing additional guidance to Accountants ad Auditors on their AML / CFT…
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Open Beneficial Ownership Register Declared Invalid by the European Court of Justice (ECJ)
The ECJ has on the 22 November 2022 declared invalid the provision of the Fifth European Union Anti-Money Laundering Directive that requires EU countries to provide public access to beneficial ownership registers. In a…
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Tax deadlines for the month of December 2022
The following are the tax deadlines for this month. 21 December 2022 – Payment of provisional tax due by companies and self-employed persons in respect of year of assessment 2023 31 December 2022 – Payment of Class II…
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Tax deadlines for the month of November 2022
The following are the tax deadlines for this month. 15 November 2022 – Submission of VAT returns together with the relative payment in respect of the quarter ending September 2022 30 November 2022 – Online submission of…
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Startup Residence Programme
Residency Malta Agency, in collaboration with Malta Enterprise, has launched the Startup Residence Programme, a programme aimed at non-EU nationals wanting to take up residency in Malta based on innovative business…
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Tax deadlines for the month of October 2022
The following are the tax deadlines for this month. 15 October 2022 – Submission of VAT returns together with the relative payment in respect of the quarter ending August 2022 31 October 2022 – Online submission of…
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Tax deadlines for the month of September 2022
The following are the tax deadlines for this month. 15 September 2022 – Submission of VAT returns together with the relative payment in respect of the quarter ending July 2022 30 September 2022 – Online submission of…
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Tax deadlines for the month of August 2022
The following are the tax deadlines for this month. 30 August 2022 – Online submission of income tax returns in respect of year of assessment 2022 by companies whose accounting year ended on 30 September 2021 31 August…
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Allowable deductions surrendered under the Group Relief Provisions
Article 16 to 22 of the Income Tax Act Chapter 123 of the Laws of Malta (hereinafter referred to as the ‘ITA’), referred to as ‘The Group Relief Provisions’ contemplates the possibility for companies forming part of the…
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Annual Report & Financial Statements for 2021
The Malta Financial Services Authority has published its Annual Report & Financial Statements for 2021. In the report, the MFSA looks back at its achievements and key projects undertaken throughout the course of last…
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Companies to provide the MBR with an electronic email address
The Malta Business Registry (MBR) has issued a notice on its website informing all companies that they have up to the 30th of September 2022 to provide the MBR with an adequate email address that is accessible to all…
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New appointments at ACT!
The company is pleased to announce the following three appointments. Christabel Spiteri has been appointed director of the company after having followed the necessary procedures with the MFSA. The MFSA has after a…
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Tax Deadlines for the month of July 2022
The following are the tax deadlines for this month. 29 July 2022 – Online submission of income tax returns in respect of year of assessment 2022 by companies whose accounting year end is between the 31 January 2021 and…
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COVID-19 fiscal assistance – Repayment of taxes eligible under the Tax Deferral Scheme
The Ministry for Finance and Employment has released a Press Release in relation to the repayment of taxes that were eligible under the Tax Deferral Scheme which was launched in March 2020. Beneficiaries that have been…
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Tax deadlines for the month of June 2022
The following are the tax deadlines for this month. 30 June 2022 – Submission by employers of Form FS5 for the month of May 2022 together with the relative payment of FSS, national insurance and maternity fund…
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The Debt Equity Bias Reduction Allowance (DEBRA)
On the 11 May 2022, the European Commission published a proposal for a Directive, whose intended purpose is to reduce the present inequality which exists and which is the result of financing an enterprise through equity…
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Extension to the Exemption from Duty in Terms of Article 23 Order
By means of LN 122 of 2022, the Government of Malta has amended the above-mentioned rules, which were originally issued in 2020 after announcing a recovery package with the aim of restoring the economy following the…