Tax & VAT News
Insights
Tax & VAT News
Latest news relating to Tax and VAT in Malta. Click below and contact us if you need any additional information.
COVID fiscal measure - Group Deductions
The inland revenue department has published on its website a guidance note in anticipation of the Group Deductions (Income Tax) Rules, 2022, which should be published shortly.
Intrastat Obligation
At the end of last year, the Office of the Commissioner for Revenue (CfR) issued a notice whereby taxpayers were reminded of the obligation to file intrastat declarations in line with Subsidiary Legislation 406.08 and also requesting subject persons to file all pending intrastat declarations.
Amendments to the Companies Act
On the 26 October 2021, Act LX of 2021 was enacted, officially introducing certain amendments to the Companies Act, Chapter 386 of the Laws of Malta (the “Act”).
Pension tax exemption rules
The Pensions (Tax Exemption) Rules have been published on 4th March 2022 and updated by virtue on LN 5 of 2024.
The Green Mobility Scheme
On the 27 March 2024, Malta Enterprise has published a new set of guidelines in relation to the newly launched Green Mobility Scheme.
The Business Development Scheme
On 19th April 2024, Malta Enterprise published a new incentive called the Business Development Scheme. This schemes aims to facilitate value-added projects, including new business initiatives, start-up, expansions and transformation activities that contribute to the regional development of Malta. It will remain open until 30th September 2030.
The Smart & Sustainable Investment Grant
On 2 April 2024, Malta Enterprise published a new incentive to extend the Smart and Sustainability Investment Grant. The Smart and Sustainable Investment Grant provides business funding to support investments that lead to more sustainable processes which lead to the enhancement of competitiveness of the enterprise through the optimisation of the use of resources in their activities. This scheme will be available until 18th December 2026.
EU Directive aimed at Curbing the Misuse of Shell Entities for Tax Purposes
On 18 May 2021, the European commission implemented the Communication on Business Taxation for the 21st Century with the aim to promote a tax system which is more efficient, robust and fair, within the European Union.
Payment service providers workshop
The EU commission will be organising a workshop for all payment service providers affected by the new requirements coming into affect as from 1st January 2024 on Friday 23rd September 2022.