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Tax deadlines for the month of June 2022

Tax deadlines for the month of June 2022

The following are the tax deadlines for this month. 30 June 2022 – Submission by employers of Form FS5 for the month of May 2022 together with the relative payment of FSS, national insurance and maternity fund contributions 30 June 2022 – Manual submission of income...

The Debt Equity Bias Reduction Allowance (DEBRA)

The Debt Equity Bias Reduction Allowance (DEBRA)

On the 11 May 2022, the European Commission published a proposal for a Directive, whose intended purpose is to reduce the present inequality which exists and which is the result of financing an enterprise through equity financing (thus no tax deductions are...

Long Term residents

Long Term residents

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...

Extension to the Exemption from Duty in Terms of Article 23 Order

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

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

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

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

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...

TAX ADVISORY sERVICES

ACT is a well-known and respected boutique tax advisory firm providing high-quality tax advice to Multinational Enterprises, SMEs including family owned and other owner-manged companies, family offices, trusts, foundations, employees and high net worth individuals.  

Corporate Taxation in Malta

Maltese companies are subject to tax at the rate of 35% on their worldwide income and capital gains. Malta grants various fiscal incentives to both companies and their shareholders upon the distribution of a dividend.

Setting up a Company in Malta

Setting up a company in Malta is a relatively straight forward procedure and can be set up within 2 working days, provided we are in receipt of all the information, funds and due diligence documentation we need.

Taking up Residence in Malta

Warm climate, friendly people, excellent communication infrastructures, low criminality and many other features of the Maltese islands have made Malta an excellent destination for people to take up residence in.

Remote Gaming in Malta

Malta was the first EU Member State to specifically regulate the remote gaming industry in 2004 and has ever since established itself as one of the prime jurisdictions for remote gaming operators. The Malta Gaming Authority (“MGA”) is the regulatory of gaming in Malta.

Payment Institutions in Malta

Malta has become a destination of choice for the setting up of Payment Institutions (also referred to as Payment Services Providers or PSPs). A number of advantages have contributed to this success, e.g. fiscal incentives granted.

Electronic Money Institutions in Malta

Malta has recently seen an increase in the number of Electronic Money Institutions (EMIs) looking to set up their operations in Malta. This has been largely due to the growth in the e-commerce and the i-gaming industries.

Initial Coin Offering (ICO) Services in Malta

Malta has always been on the forefront of technology and innovation. A number of initiatives have been launched, aimed at establishing an innovative and attractive regulatory framework for entities operating in the blockchain industry.

Assistance to Family Businesses in Malta

Malta has recently introduced legislation to encourage good governance in the management of family businesses, to assist family businesses to operate in an efficient way and to assist in the transfer of business from one generation to the other.