Joint notice by the MBR and the CfR with respect to share transfers

The Commissioner for Revenue and the Registrar of Companies would like to notify that, in respect of share transfers and changes in issued share capital/voting rights of companies and other commercial partnerships where applicable, or transfers of interests in partnerships, requiring registration by the International and Corporate Tax Unit (ICTU), all relevant documents should be delivered […]

Written By Stephen Balzan

On January 30, 2021
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The Commissioner for Revenue and the Registrar of Companies would like to notify that, in respect of share transfers and changes in issued share capital/voting rights of companies and other commercial partnerships where applicable, or transfers of interests in partnerships, requiring registration by the International and Corporate Tax Unit (ICTU), all relevant documents should be delivered to the ICTU prior to forwarding any of the requisite documents to the Registry of Companies Unit within the Malta Business Registry.
With effect from 1st February 2021, the above-mentioned procedure is also applicable in the case of transfers/changes in respect of which there is a valid determination issued in terms of Article 47 of the Duty on Documents and Transfers Act (DDT 10). Any such documentation must be accompanied by the relevant Capital Gains Schedule, auditor’s report and supporting documentation as applicable.

It is also being clarified that in the case of transfers (including deemed transfers) of interests held in partnerships, the  capital gains and duty Schedules required to be submitted from an Income Tax and Duty on Documents and Transfers perspective are the same as those applicable to transfers in/changes to the issued share capital held in companies.

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].