News
Latest News
Read all about ACT and relevant news from advisory, corporate, tax and other related services.
Amendments to the Deduction (Income from Employment) Rules
The Government of Malta has by means of Legal Notice 1 of 2024 amended the Deduction (income from Employment) Rules. The revised rules shall be applicable as from year of assessment 2025. These rules apply to individuals (including any spouse where the...
Amendments to the Transfer Pricing Rules
By means of Legal Notice 9 of 2024, the Government of Malta has amended the Transfer Pricing Rules (hereinafter referred to as ‘the rules’). These rules shall apply for basis years commencing on or after 1st January 2024 in relation to any arrangement entered into...
Exemption from tax on pension income
Since year of assessment 2023, the Government has gradually been exempting from tax, pension income derived by an individual on or after 1st January 2022 as per below so that by year of assessment 2027, all pension income will be exempt from tax. By means...
Amendments to the Tax Rebate (Pensioners) Rules
By means of Legal Notice 6 of 2024, 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 2024. With respect to pensioners being charged to tax at the...
Exemption of duty on acquisition of residential property in Gozo
By means of LN 316 of 2023, the Government of Mata has extended the deadline for persons to acquire ‘inter vivos’ residential property situated in Gozo by one month wherein, the duty otherwise chargeable in terms of the Duty on Documents and Transfers Act shall be...
Tax Credit (Construction Waste Recycling) 2020 – 2023 Rules
In 2020, the Government of Malta had by means of Legal Notice 218 of 2020 issued new rules granting a reduced rate of tax of 5% on chargeable income derived by persons during the calendar years 2020 to 2023 and who are in possession of a permit issued by the...
Tax Credit in respect of Therapy Costs provided to Children with Disability
The Government of Malta has published Legal Notice 296 of 2023 This LN amends LN 70 of 2023, by virtue of which any person who on or after 1st January 2023 incurs professional fees for the provision of approved therapy to his or her child shall be...
Tax deductions in respect of Intellectual Property and Intellectual Property Rights
The Commissioner for Tax and Customs has announced that, with effect from the period covered by the year of assessment 2024, any expenditure of a capital nature incurred on Intellectual Property or Intellectual Property Rights may, at the option of the person that has...
Tax deadlines for the month of February 2024
The following are the tax deadlines for this month. 15 February 2024 – Submission of VAT returns together with the relative payment in respect of the quarter ending December 2023 15 February 2024 – Submission by employers of Forms FS 3 and 7 for the calendar year 2023...
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.