Topic
Corporate & income tax
Income tax rules, returns and deadlines, deductions, guidelines and rulings.
352 news items and articles, newest first
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Amendments to the Tax Accounting Rules
By virtue of L.N. 183 of 2015, the Maltese tax authorities have made some amendments to the Tax Accounting Rules, which will be applicable as from year of assessment 2015. The following is a summary of these amendments:…
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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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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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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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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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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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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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Double taxation agreement with Mauritius
Malta has signed a double taxation agreement with Mauritius on 15th October 2014 in New York, which was published by means of Legal Notice 409 of 2014. Article 10 of the treaty provides that dividends paid by a company…
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Rulings on Income Tax and Duty
Rulings on Income Tax and Duty Treatment to apply to demergers, amalgamation and reorganizations as well By means of Legal Notice 410 of 2014, the Rulings (Income Tax and Duty Treatment of Mergers and Divisions) Rules…
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ACT Tax Partners to deliver lectures on international tax
Stephen Balzan and Elaine Camilleri – Tax Partners ACT, will from the 14th November 2014 to the 19th December 2014, be delivering a series of five lectures on international taxation as part of an International Taxation…
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Malta signs Multilateral Agreement on Automatic Exchange of Tax Information
Malta has joined 50 states and jurisdictions in signing a Multilateral Agreement on Automatic Exchange of Tax Information. The agreement was signed in Berlin under the aegis of the OECD and the Maltese Minister for…
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Stephen Balzan – Tax Partner ACT speaks at a tax conference
Stephen Balzan, Tax Partner ACT was invited as a guest speaker to speak at a day conference, organised by Society Education. Stephen delivered a presentation on the recent tax updates in Malta’s income tax legislation…
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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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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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Taxation of Maltese Private Pensions
Introduction Malta is increasingly becoming a financial services centre of repute looked at by a number of financial services operators Malta as the ideal platform to set up their private pension schemes. Malta’s…
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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.