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% for each calendar month.  With effect from the […]

Written By Stephen Balzan

On April 17, 2022
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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% for each calendar month.  With effect from the same date, the rate of interest payable  on late payment of tax due will also increase 0.33% to 0.6% for each calendar month.

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 +356 21378672 or send us an email on [email protected].