On 14 September 2022, Malta issued Legal Notice 228 of 2022 on Income Tax (Rate of Interest) (Amendment) Rules, 2022. Accordingly, the date by which the tax is payable in terms of the relevant provisions of the Income Tax Acts is 31 August 2022 or a later date, interest shall be charged at the rate of 0.6% for every month or part thereof during which the tax remains unpaid and the total interest shall not exceed the amount of the said tax.
Related Posts
Romania: Chamber of Deputies approve protocol to tax treaty with Malta
November 21, 2024
Romania’s Chamber of Deputies have approved the amending protocol to the 1995 Malta-Romania Tax Treaty on 18 November 2024. The protocol has been presented to Romania's Senate for further approval. It will take effect 30 days after the
Read More
Malta publishes guidance for taxation of insurance businesses
October 31, 2024
The Malta Tax & Customs Administration has published a new guidance regarding the taxation of insurance businesses, following the adoption of IFRS 17 Insurance Contracts Rules on 25 October 2024. In 2017, the International Financial Reporting
Read More
Malta announces new tax measures for 2025 budget
October 30, 2024
Malta’s finance minister, Clyde Caruana, presented the 2025 budget in the parliament on Monday, 28 October 2024. The 2025 budget includes the following proposed tax measures: Global minimum tax rate Malta has decided to delay the adoption
Read More Malta updates income tax deduction rules for capital expenditure on intellectual property
September 23, 2024
The government of Malta has issued a legal notice revising the local rule on deductions for capital expenditure related to intellectual property or intellectual property rights for income tax purposes on 13 September 2024. The provisions of these
Read More Malta expands VAT exemption for healthcare
September 23, 2024
The government has released a legal notice 228 of 2024 designating services by dental technicians, psychotherapy and counselling professions as medical professions for VAT exemption purposes under the Value Added Tax Act (Amendment of Fifth
Read More Curacao, Malta tax treaty enters into force in September ’24
August 26, 2024
The income tax treaty between Curacao and Malta will enter into force on Sunday, 1 September 2024. The treaty will apply from 1 January 2025. Malta utilises the credit method to eliminate double taxation. Curacao can employ either the
Read More