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Deduction for the cost of goods acquired for resale
The Commissioner for Revenue has issued a clarification note to explain that traders who donate goods that are close to their expiry date for charitable purposes (rather than destroy them) will not loose the right to the deduction for the cost of the goods and would...
Amendments to the Tax Rebate (Pensioners) Rules
By means of Legal Notice 49 of 2023, the Commissioner for Revenue has amended the above-mentioned rules to increase the maximum rebate allowed against pension income earned on or after the 1st January 2023. With respect to pensioners being charged to tax at the...
Alignment of VAT Return and Recapitulative Statement periods
The Office of the Commissioner for Revenue has embarked on an exercise to align VAT periods with the Recapitulative Statement reporting periods, with VAT periods being changed to calendar quarters. Qualifying VAT numbers which previously had a period...
Deadline for tax payment by fiscal units
The Commissioner for Revenue has notified that the tax payment deadline of eighteen months following the end of the accounting period, applicable to companies in possession of a determination under the relevant paragraphs of Article 47 of the Duty on Documents and...
Tax deadlines for the month of May 2023
The following are the tax deadlines for this month. 31 May 2023 – Submission by employers of Form FS5 for the month of April 2023 together with the relative payment of FSS, national insurance and maternity fund contributions 31 May 2023 – Manual submission of income...
Tax deadlines for the month of April 2023
The following are the tax deadlines for this month. 30 April 2023 – Submission by employers of Form FS5 for the month of March 2023 together with the relative payment of FSS, national insurance and maternity fund contributions 30 April 2023 – Submission of Form TA24...
Electronic filing of corporate income tax returns
The Commissioner for Revenue has issued a notice which notifies that the deadlines for the electronic filing of income tax returns for companies have been extended as follows: Financial Year EndingManual Return DeadlineWeb Submission Extension Deadline31 January...
Clarification issued by the CfR in relation to employment outside Malta
By virtue of Article 56 (17) of the Income Tax Act, employment income derived in terms of an employment agreement which stipulates that : the performance of duties is to be carried out outside Malta and the duration of the said employment agreement is not less...
Tax deadlines for the month of March 2023
The following are the tax deadlines for this month. 31 March 2023 – Submission by employers of Form FS5 for the month of February 2023 together with the relative payment of FSS, national insurance and maternity fund contributions 31 March 2023 – Manual submission of...
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
Remote Gaming in Malta
Payment Institutions in Malta
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.