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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Guidelines in relation to the Consolidated Group (Income Tax) Rules
The Commissioner for Revenue (CfR) has recently published new guidelines in connection with the Consolidated Group (Income Tax) Rules. These guidelines include aspects such as the registration process and the…
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Assignment of Rights Acquired under a Promise of Sale Agreement Rules 2020
By means of LN 191 of 2020, new rules have been introduced with effect from 1st January 2020 with respect to the assignments of rights acquired on or after this date in terms of a promise of sale agreement of immovable…
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The Merchant Shipping (Taxation and other matters relating to shipping organisations) Regulations
By means of LN 128 of 2018, new regulations have been introduced with effect from the first of May 2018 with the purpose of providing for the taxation and certain other matters relating to shipping organisations.…
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Tax Credit (Construction Waste Recycling)
The Government of Malta has by means of Legal Notice 179 of 2020 issued new rules granting a tax credit to authorised persons who are in possession of a permit issued by the Environment and Resources Authority for the…
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COVID-19 Tax Deferral Scheme Extended
The Commissioner for Revenue announced that the Tax Deferral Scheme has been extended to cover taxes which fall due up to and including 30th June 2020. The settlement date is still to be announced in the future. The Tax…
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Electronic filing of Corporate Income Tax Returns
The Office of the CfR has announced that the deadlines for the electronic filing of income tax returns by companies in respect of year of assessment 2020 have been extended. These extensions apply only to the electronic…
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Extension for PT payments due in April 2020
On the 27th April 2020, the Commissioner for Revenue (Cfr) has notified that the deadline for the payment of the Provisional Tax for April 2020 is being extended to 31st May 2020. Due to the outbreak of COVID-19, the…
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Submission and Payment of Forms TA22 and TA24 YA2020 (Basis 2019)
The Commissioner for Revenue (CfR) has issued a notice with respect to the payment of tax at the rate of 15% on income derived from part time self employment and from rental income. The CfR has notified taxpayers that:…
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COVID -19 – Concerns related to permanent establishments (PEs) under Tax Treaties
The Organisation for Economic Cooperation and Development (OECD) has recently issued a report addressing the tax implications that COVID-19 will have on cross border employment. Governments across the world (including…
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Tax Treaties – the impact of COVID-19
The Organisation for Economic Cooperation and Development (OECD) has recently issued a report addressing the tax implications that COVID-19 will have on cross border employment. Governments across the world (including…
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Patent Box Regime (Deduction) Rules
The Patent Box Regime Rules, implemented through Legal Notice 208 of 2019, apply to income derived from qualifying intellectual property on or after the 1st of January 2019. A qualifying Intellectual Property (IP) is a…
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Amendments to the Qualifying Employment in Aviation (Personal Tax) Rules
By means of LN 120 of 2020, the Government of Malta has made a number of amendments to the rules by virtue of which individuals deriving income from a qualifying contract of employment shall have the option to benefit…
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Extended deadline for the submission of Financial Account information by Malta Reporting Financial Institutions
Due to the challenging circumstances as a result of the Covid-19 pandemic, an extension for the submission of the report containing Financial Account information relating to the reporting year 2019 has been granted.…
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Amendments to the Commissioner for Revenue Act
A document that is certified by the Commissioner, or by a person authorised by him for this purpose, as being a true reproduction of an electronic copy, prepared by or under the authority of the Commissioner, that was…
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CFR Notice – Disclosure of Beneficial Owners
Further to the changes relative to the beneficial ownership register brought about by the 5th AML Directive), transposed into Maltese legislation by means of Legal Notice 26 of 2020 (Prevention of Money Laundering and…
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Revised Tax Refund Claim Application Form
A revised refund claim application form relative to refunds claimed in terms of Article 48(4) and 48(4A) of the Income Tax Management Act,will be circulated shortly. Such revised application form will be the only valid…
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COVID-19 – Extended deadlines for Teleworking Activities Schemes
Malta Enterprise has extended the call for the Facilitation of the Teleworking Activities from 31st March 2020 to Friday, 8th May 2020. The grant will be awarded against 45% of the eligible cost which must be incurred…
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COVID-19: Tax Payment Deferral Scheme Application Form
After a number of fiscal support measures were announced, intended to aid businesses that are negatively impacted by the COVID-19 outbreak, the online application form through which companies and self-employed persons…
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Double Taxation Treaty with Belgium
By means of Legal Notice 60 of 2020, the Malta Government has announced that the Double Taxation Relief on Taxes on Income with the Kingdom of Belgium (Amendment) Order, 2013 amending the Double Taxation Relief on Taxes…
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Tax Relief for Coronavirus-Hit Businesses
Business owners and self-employed people whose trade has been most affected by a coronavirus-sparked slump will have all tax and social security payments due for March and April postponed. The payments will instead be…
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The Importation of Foreign Losses – The Aures Holdings Case (C-405/18)
The Court of Justice of the European Union (CJEU) has on the 27th February 2020 decided the above-mentioned case which concerns the transfers of tax losses between different EU member states. Aures Holdings, a company…
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Tax implications of the Coronavirus
The Coronavirus Covid-19 is creating economic disruption of which the impact is expected to be durable even in the second half of the year. After the 2008 recession, this virus has been declared as the greatest danger…
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The Effect of the 5th AML Directive on Tax Practitioners
January 2020 marked the transposition of the 5th AML Directive (Anti-money Laundering Directive). After the implementation of the 4th AML Directive, the European Union faced new challenges mostly due to the innovative…
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Transposition of the Tax Intermediaries Directive
The Cooperation with Other Jurisdictions on Tax Matters Regulations have been revised by virtue of Legal Notice 342 of 2019 which was published on 17 December 2019. The amendments, transpose the provisions of Council…
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Amendment to the Tax Rebate (Pensioners) Rules
The Government of Malta has recently published Legal Notice 326 of 2019 to increase the maximum amount of tax rebate available to persons chargeable to tax at the rates specified under article 56(1)(a) and (b) of the…
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Amendments to the NID Guidelines
The Guidelines in relation to the Notional Interest Deduction (NID) rules have been revised and a new paragraph has been added to the rules. The new paragraph (xii) entitled: Attribution of the Deemed Interest Income on…
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Payment of PT rules – Change in additional tax on unpaid provisional tax
The Malta Government has on the 19th November 2019, published Legal Notice 304 of 2019 which amends the Payment of Provisional Tax Rules. A new proviso to Rule 14(1) provides that in respect of periods commencing on or…
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Patent Box Regime (Deduction) Rules
The Government of Malta has by means of Legal Notice 208 of 2019, recently published new rules, introducing a patent box regime on qualifying intellectual property (IP). The deduction is applicable to qualifying income…
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Patent Box Regime (Deduction) Rules (continued)
The Government of Malta has by means of Legal Notice 208 of 2019, recently published new rules, introducing a patent box regime on qualifying intellectual property (IP). The deduction is applicable to qualifying income…
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Updates to the Notional Interest Deduction (NID) Guidelines
On the 11th of July 2019, the Commissioner for Revenue updated its guidelines on the NID rules. The updated guidelines include a new paragraph ‘xi’ which refer to deductions calculated in respect of accounting periods…