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.
2018 Compliance calendar
With constantly changing regulations, it can be hard to keep up with reporting requirements and deadlines.
Certify (Tax Credits) 2018 - 2020
Certify 2018 – 2020 is a fiscal measure administered by the Malta Enterprise Corporation to encourage eligible undertakings to continuously improve the quality of their products, services and processes through the attainment of industry recognised certifications and quality marks.
VAT: Recent Updates
On the 22nd May 2018, two new legal notices concerning VAT matters were published, to enact regulations announced by the Minister for Finance in the 2018 Budget.
VAT Grouping – Where are we so far?
In the 2018 Budget Speech, the Minister of Finance had announced the introduction of the VAT Grouping Scheme into local legislation, whereby two or more persons would have the option to be treated as a single taxable person for VAT purposes.
VAT and Income Tax systems update
Take note of the following changes within the VAT & Income Tax Department related to VAT and Income tax payments and move to the new premises.
Deduction for Transportation Cost of Employees
An undertaking may claim a deduction against its income equivalent to 150% of the employee transportation costs incurred in the relative year.
Duty on the Acquisition of the Second Property to be used for Own Residence
A new legal notice was published about the Duty on the Acquisition of the Second Immovable Property to be used for Own Residence (Exemption) Order.
Drastic reform of EU VAT system on the way
On 4 October 2017 the European Commission proposed a drastic reform of the VAT system of the European Union.
Fringe Benefits Rules Update
On the 8th of August 2017, a new legal notice was published whereby a number of updates and clarifications were effected to the Fringe Benefit Rules.