Tax deductions in respect of donations made to the Community Chest Fund

By means of Legal Notice 321 of 2018, the Government of Malta has announced that the rules applicable to tax deductions in respect of donations made to the Community Chest Fund have been extended to donations made up to the 31st December 2018.  Where a company makes a cash donation of not less than €2,000 […]

Written By ACT Team

On January 21, 2019
"

Read more

By means of Legal Notice 321 of 2018, the Government of Malta has announced that the rules applicable to tax deductions in respect of donations made to the Community Chest Fund have been extended to donations made up to the 31st December 2018. 

Where a company makes a cash donation of not less than €2,000 to the Malta Community Chest Fund, such donation may be claimed as a deduction against its income for the relative year of assessment, provided that a relevant signed certificate in respect of such donation has been issued by the secretary of the Malta Community Chest Fund and is attached to and submitted together with the income tax return for the year. 

The certificate referred to above must show the date of the donation, the name and company registration number of the donor and the value of the donation.  The deduction shall only be allowed where the Malta Community Chest Fund has forwarded the details of all qualifying donations to the Commissioner by the 30th June of the year following that in which the donations were made. 

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].