On 20 March 2020, Malta’s Commissioner for Revenue has issued a press release on ‘Postponement of Payment of Certain Taxes’. Recently, the Maltese Government has also announced guidelines on the tax deferral scheme due to COVID-19. The main measures are following:
- The payment will be postponed of the following taxes which fall due in March and April 2020:
- Provisional tax,
- employee taxes,
- maternity fund payments and social security contributions,
- social security contributions of self-employed persons, and
- Value added tax (VAT).
- Eligible taxes (excluding Vat) to be settled in four equal monthly instalments in the four month period between May and August 2020. VAT dues to be settled in two equal instalments with the two quarterly returns immediately following the quarter whose dues would have been deferred;
- No interest or penalties to be charged in respect of eligible taxes that would have been deferred in terms of this scheme;
- The deadline for self-employed persons to submit micro-invest applications in respect of calendar year 2019 has been extended to 30 April 2020 from 24 March 2020;
- One is required to complete and submit an online application form available on the Malta Enterprise website. Such an application is to be made not later than 15 April 2020.
