On 21 February 2023, Malta published Legal Notice 40 of 2023 in the Official Gazette amending the income tax group deduction rules.
According to the amendments, the total allowable deductions that may be claimed shall not exceed EUR 1 million per group of companies and the total amounts surrendered in each year of assessment shall be equal to the amounts so claimed in each year of assessment. Also, the total allowable deductions that may be claimed by a claimant company in the year of assessment 2022 and in the year of assessment 2023 shall not exceed the claimant company’s total income for the years of assessment 2022 and 2023 respectively.
