Tax & VAT News
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Tax & VAT News
Latest news relating to Tax and VAT in Malta. Click below and contact us if you need any additional information.
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.
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.
Malta introduces a "parking-rate" of 12% VAT on certain services.
The Maltese Government has just published a new Legal Notice 231/2023 amending the 8th Schedule to the VAT Act. This Legal Notice introduces a new reduced rate of 12% based on the so called "parking-rate" already applied in Ireland and Luxembourg.
Tax rebate on private residential leases - Amalgamation with TA24
Persons who derive income from a private residential lease which is registered with the Housing Authority as a long lease, are eligible for a tax rebate against the tax chargeable on such rental income.
The Highly Qualified Persons Rules update
In terms of a new legal notice published on 29 January 2021, the Highly Qualified Persons Rules have been updated and extended accordingly.
Deadline for applying for Fiscal Unity extended
The Commissioner for Revenue has extended the deadline for applying for fiscal unity in respect of the Year of Assessment 2020 from 31 August 2020 to 30 September 2020.
The VAT treatment of secondment of staff
On the 11 March 2020, the European Court of Justice (ECJ) issued its judgement in C-94/19 (Italian Tax Authorities v. San Domenico Vetraria S.p.a.) in relation to the VAT treatment of secondment of staff provided by a parent company to its subsidiary.
Qualifying Employment in Aviation (Personal Tax) (Amendment) Rules
On 2 April 2020, a legal notice was published whereby the Qualifying Employment in Aviation Personal Tax Rules were amended. These updates are applicable with effect from 1 January 2020.
The Companies Act Company Reconstruction Funds Regulations
The scope of these regulations is to create and regulate the administration of a fund intended to facilitate company recovery procedures instituted in accordance with article 329B (Company Recovery Procedure) of the Companies Act.
Amendments to Malta Tax Schemes
The Malta Retirement Programme (“MRP”), the Global Residence Programme (“GRP”), the Residence Programme (“TRP”) and the United Nations Pensions Programme ("UNPP") have been recently updated through the publication of LN 69 of 2020. Such updates are effective from 1 January 2020.