By virtue of Legal Notice 247 of 2020, the Maltese Government has amended the rules relating to the register of beneficial owners. The main amendments are as follows: All companies registered in Malta, must on each anniversary of their registration, make a...
The FSS rules were recently amended by virtue of the publication of Legal Notice 246 of 2020. The new rules, which are effective as from 1st January 2020 complement the rules which were also issued earlier on this year with respect to the 15% reduced rate of tax on...
Earlier on this year Article 90B was introduced in the Income Tax Act (ITA), which provided that with effect from 1st January 2010, an individual can opt to have his qualifying overtime income be subject to tax at the a reduced rate of 15. LN 245 of 2020 has now...
After the Maltese Government has announced a recovery package with the aim of restoring the economy following the effect of the COVID-19 pandemic, new rules have now been published to give effect to the various measures. By means of LN 241 of 2020, the Government...
On the 3rd of June 2020, the Commissioner for Revenue (CfR) issued updated guidelines to the Consolidated Group (Income Tax) Rules. The original guidelines had been issued earlier on this year. The first update concerns the fact that prior to the...
Earlier on this year, the Government of Malta had by means of Legal Notice 179 of 2020 issued new rules granting a tax credit to authorized persons who are in possession of a permit issued by the Environment and Resources Authority for the acceptance in their quarry...
A teleworking scheme for individuals residing in Gozo and who work for the private sector from home has been launched on the 25th of May 2020. The purpose of the new financial aid measure is to encourage Malta based businesses to offer teleworking facilities for...