Tax deductions for donations made to the Malta Community Chest Fund (MCCF)

With effect from year of assessment 2015, a deduction against taxable income was introduced in respect of cash donations of not less than €2,000 made by companies to the Malta Community Chest Fund. The donation would be allowed as a deduction provided that a signed certificate is issued by the secretary of the MCCF and […]

Written By ACT Team

On December 11, 2017
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With effect from year of assessment 2015, a deduction against taxable income was introduced in respect of cash donations of not less than €2,000 made by companies to the Malta Community Chest Fund.

The donation would be allowed as a deduction provided that a signed certificate is issued by the secretary of the MCCF and is attached to the company’s income tax return.  The certificate must show the date of the donation, the name and company registration number of the donor and the value of the donation.

The deduction was only available with respect to donations made up to the 31st December 2016.  By means of LN 343 of 2017, this has been extended by another year until the 31st December 2017.

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].