Pursuant to LN 39 of 2021, the Enrolled Voluntary Organisations (Tax Exemption) Rules (SL 123.190) have been revised. In terms of the changes, which apply as of year of assessment 2022, the tax exemption in terms of Rule 3 applies to enrolled organisations whose turnover for the year immediately preceding the year of assessment does not exceed €50,000 (increased from €10,000).
Increase in tax exemption threshold for voluntary organisations
Pursuant to LN 39 of 2021, the Enrolled Voluntary Organisations (Tax Exemption) Rules (SL 123.190) have been revised. In terms of the changes, which apply as of year of assessment 2022, the tax exemption in terms of Rule 3 applies to enrolled organisations whose turnover for the year immediately preceding the year of assessment does not exceed €50,000 […]
Written By Stephen Balzan
On February 20, 2021
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For further information, please contact us on [email protected]. ACT can help you understand the changes to the income tax, accounting, corporate and VAT 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].
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