Topic
Corporate & income tax
Income tax rules, returns and deadlines, deductions, guidelines and rulings.
352 news items and articles, newest first
-
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…
-
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…
-
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…
-
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…
-
Payroll Updates for 2024: What You Need to Know
As we usher in the new year, businesses need to stay informed about the latest updates in payroll, employment, and related regulations. In this comprehensive overview, we’ll delve into the significant changes for 2024,…
-
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…
-
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…
-
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…
-
New Tax Rules for Digital Nomads in Malta
On the 7th of December 2023, the Government of Malta has issued new rules entitled the ‘Nomad Residence Permits (Income Tax) Rules 2023’ which are applicable to digital nomads residing and working in Malta. By means of…
-
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…
-
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…
-
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…
-
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…
-
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…
-
Navigating the Winding-Up Process of a Company in Malta
In the dynamic business landscape of Malta, there are instances when companies may need to consider the winding-up process. Whether prompted by changing business needs, financial challenges, or strategic decisions,…
-
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…
-
Unlocking Business Opportunities: A Guide to Company Incorporations in Malta
Malta, with its strategic location in the heart of the Mediterranean, is emerging as a preferred destination for entrepreneurs seeking to unlock new business opportunities. The process of company incorporation in Malta…
-
Extension of the reduced rate of tax on income derived from sports activities
The Minister of Finance has in his Budget Speech for the year 2024 announced that the 7.5% rate of tax on income derived by players, licensed coaches and athletes will be extended to other persons engaged in sports…
-
Family businesses
The Minister of Finance has in his Budget Speech for the year 2024 announced that: The reduced rate of stamp duty of 1.5% applicable to certain transfers of family businesses to descendants has been extended. Family…
-
Increase in the tax credit for children with disabilities undergoing therapy
The Minister of Finance has in his Budget Speech for the year 2024 announced that as from next year, the Government will increase to €500 (up from €200) per year, the tax credit to parents of children with disabilities…
-
Pillar 2
The Minister of Finance has in his Budget Speech for the year 2024 announced that Malta will apply the derogation provided for in the EU Minimum Tax Directive and therefore will delay the introduction of the 15% minimum…
-
Taxation in relation to immovable property
The Minister of Finance has in his Budget Speech for the year 2024 announced that: The scheme applicable for first time buyers and second time buyers will be extended for another year. No income tax and stamp duty will…
-
Tax deadlines for the month of November 2023
The following are the tax deadlines for this month. 15 November 2023 – Submission of VAT returns together with the relative payment in respect of the quarter ending September 2023 30 November 2023 – Online submission of…
-
Tax deadlines for the month of October 2023
The following are the tax deadlines for this month. 15 October 2023 – Submission of VAT returns together with the relative payment in respect of the quarter ending August 2023 31 October 2023 – Online submission of…
-
Reduced rate of tax for income from artistic activities
The Commissioner for Tax and Customs has announced the publication of guidance on the 7.5% rate of tax applicable to income from certain artistic activities pursuant to article 56(26A) of the Income Tax Act (CAP 123).…
-
Tax deadlines for the month of September 2023
The following are the tax deadlines for this month. 15 September 2023 – Submission of VAT returns together with the relative payment in respect of the quarter ending July 2023 30 September 2023 – Online submission of…
-
Extension of VAT Return Deadline for August 2023
The Malta Tax and Customs Administration notifies that the deadline for the filing of VAT returns that are due by 15th August 2023 has been extended to 31st August 2023. The due date of the relative payment is being…
-
Proposal for Council Directive on Faster and Safer Relief of Excess Withholding Taxes
The European Commission (EC) has proposed new rules to make withholding tax procedures in the EU more efficient and secure for investors, financial intermediaries (e.g. banks) and Member State tax administrations.…
-
Notional Interest Deduction (‘NID’) Rules
In 2018, the Government of Malta had issued new rules which provide for a notional interest deduction (NID) against the chargeable income of an undertaking for sums that are deemed to be payable by way of interest on…
-
Tax deadlines for the month of August 2023
The following are the tax deadlines for this month. 31 August 2023 – Online submission of income tax returns in respect of year of assessment 2023 by companies whose accounting year ended on 30 September 2022 31 August…