Stamp Duty exemption

Is your company subject to a stamp duty exemption issued by the Commissioner for Revenue in terms of Article 47 of the Duty on Documents and Transfers Act (DDT10 exemption)?

Apart from granting a stamp duty exemption, the DDT10 exemption extends the tax payment deadline from 9 to 18 months after the financial year-end.

In terms of a recent amendment to the Act, such exemption may no longer be valid as from the 1st of December 2019.

The DDT10 exemption will only be re-awarded to the company if a new application is submitted, and if a company satisfies the following conditions:

a) The company carries more than 90% of the business interests outside of Malta;

b) The company’s turnover is not derived from any activities carried on with customers/clients who are resident in Malta;

c) The company’s turnover is not derived from activities carried on directly or indirectly with non-resident customers / clients who operate in Malta through a branch situated in Malta;

d) The company’s turnover is not derived from any retail, catering, on-land entertainment, manufacturing and other related productive activities, transport, agricultural or fishing activities which are carried on in Malta; and

e) The company’s turnover is not derived from immovable property situated in Malta