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Amendment to the Exemption of Duty in terms of Article 23 Order

Amendment to the Exemption of Duty in terms of Article 23 Order

By means of LN 130 of 2021, 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...

EU CONSULTATION ON EXTENDING DAC TO CRYPTO-ASSETS AND E-MONEY

EU CONSULTATION ON EXTENDING DAC TO CRYPTO-ASSETS AND E-MONEY

The EU Commission has launched a public consultation on a proposal to expand the Directive on Administrative Cooperation, to provide for the exchange of information in the field of taxation to include crypto-assets and e-money. The objective of the...

AMENDMENTS TO THE REVENUE ACTS

AMENDMENTS TO THE REVENUE ACTS

Act VIII of 2021 was published on 12 March 2021 which introduces a series of amendments to a number of fiscal laws such as the Income Tax Act, the Income Tax Management Act, the Duty on Documents and Transfer Act and the Value Add Tax Act  The amendments are intended...

Company Service Providers (Exemption) Regulations

Company Service Providers (Exemption) Regulations

The Government of Malta has published Legal Notice 105 of 2021 which provides for a list of persons who will be exempt from seeking authorization from the MFSA to act as company service providers, thus being exempted from complying with the provisions of the Act. The...

Capital Allowances for Car Parks

Capital Allowances for Car Parks

The Commissioner for Revenue has published a new Guidance Note regarding Capital allowances in respect of Car Parks. The definition of “industrial building or structure” in article 2 of the Income Tax Act includes a car park that satisfies all the following...

Compliance monitoring by the CfR

Compliance monitoring by the CfR

The Office of the CfR has announced that, as part of its compliance monitoring, entities in scope of the Cooperation with Other Jurisdictions on Tax Matters Regulations (SL 123.127) that will be receiving a formal letter from the Commissioner for Revenue are expected...

Tax rebate on private residential leases

Tax rebate on private residential leases

The Office of the CfR has announced that 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...

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.

Prospects – Services of a Corporate Advisor in Malta

‘Prospects’ is a new platform set up by the Malta Stock Exchange in line with its commitment to open up new capital market opportunities, create economies of scale and to afford businesses more competitiveness and sustainability.

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.