The Malta Government has on the 19th November 2019, published Legal Notice 304 of 2019 which amends the Payment of Provisional Tax Rules. A new proviso to Rule 14(1) provides that in respect of periods commencing on or after 1 January 2020, additional tax due in relation to late payment of provisional tax shall be charged at the rate of 0.33% of the unpaid provisional tax (instead of 1%) for each calendar month or part thereof.
Payment of PT rules – Change in additional tax on unpaid provisional tax
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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].