Long term residents are defined by Subsidiary Legislation 217.05 as third country nationals who are granted long term resident status as provided for under regulations 4 to 7 of the said rules. In 2021, following infringement procedures by the European Commission...
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Extension to the Exemption from Duty in Terms of Article 23 Order
By means of LN 122 of 2022, the Government of Malta has amended the above-mentioned rules, which were originally issued in 2020 after announcing a recovery package with the aim of restoring the economy following the effect of the COVID-19 pandemic. The transfer ‘inter...
Extension to the Exemption from Tax on Certain Property Transfers
By means of LN 121 of 2022, the Government of Malta has amended the above-mentioned rules, which were originally issued in 2020 after announcing a recovery package with the aim of restoring the economy following the effect of the COVID-19 pandemic In terms of the...
Tax Deadlines for the month of May 2022
The following are the tax deadlines for this month. 31 May 2022 – Submission by employers of Form FS5 for the month of April 2022 together with the relative payment of FSS, national insurance and maternity fund contributions 31 May 2022 – Manual submission of income...
Reduced rate of tax on overseas employment income
By means of ACT VII of 2022, Article 56(17) of the Income Tax Act has been amended with effect from the calendar year 2022. Article 56(17) of the ITA provides that an individual may opt to be taxed at the reduced rate of 15% on employment income payable under a...
Tax deadlines for the month of April 2022
The following are the tax deadlines for this month. 30 April 2022 – Submission by employers of Form FS5 for the month of March 2022 together with the relative payment of FSS, national insurance and maternity fund contributions30 April 2022 – Submission of Form TA24 by...
Increase in interest and additional tax rates
By means of Legal Notice 99 of 2022, the Government of Malta has increased the interest and additional tax rates as follows: With effect from 1st June 2022, the additional tax due by a tax payer on late payment of provisional tax has increased from 0.33% to 0.6%...