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 to strengthen the powers of the Commissioner for Revenue in the fight against tax evasion by giving more powers of investigation and allowing for the sharing of information. This is being done in view of the recommendations made by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, most commonly referred to as the ‘MONEYVAL’.
AMENDMENTS TO THE REVENUE ACTS
How can we help?
For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax rules and how these can impact your business.
Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria. For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on [email protected].