7 more countries sign tax co-operation agreement to enable BEPS Action 13
According to a press release of 27 January 2017, published by the OECD, as part of continuing efforts to boost transparency by multinational enterprises (MNEs), Gabon, Hungary, Indonesia, Lithuania, Malta, Mauritius and the Russian Federation have
See MoreMalta: IRD issues Guidelines on use of Mutual Agreement Procedure
The Inland Revenue Department of Malta issued guidelines for the use of the Mutual Agreement Procedure under the provisions of Article 96(2) of the Income Tax Act (ITA), on 15 December 2016. The procedure permits the Malta Competent Authority to
See MoreMalta, Vietnam income tax treaty enters into force
On 25 November 2016, the income tax treaty between Malta and Vietnam was entered into force. This treaty will apply from 1 January
See MoreMalta, Singapore sign automatic exchange of information agreement
On 15 December 2016, the Malta and Singapore signed the Competent Authority Agreement on Automatic Exchange of
See MoreMalta: Guidance on the use of MAP published
On 15 Dec 2016, The Commissioner for Revenue has published guidance issued under the provisions of article 96(2) of the Income Tax Act (ITA) on the use of Mutual Assistance Procedure
See MoreMalta: Budget for 2017 at a glance
On 17 October 2016, the Budget for 2017 was presented to the parliament. Details of the tax measures included in the Budget, which are yet to be implemented through legislative amendments and guidelines, are following: Taxation Income tax on
See MoreMalta: Extended the deadline for electronic filing of 2016 corporate income tax returns
On 13 April 2016, the Inland Revenue Department of Malta notified that the deadlines for electronic filing of corporate income tax returns for assessment year 2016 are extended as follows: Tax Return Filing Date Electronic Filing Extended
See MoreMalta: Tax Rates for Basis Year 2015
Malta's income tax rates for the basis year 2015 are as follows: Chargeable Income (€) Single Rates From To Rate Subtract (€) 0 8,500 0% 0 8,501 14,500 15% 1,275 14,501 60,000 25% 2,725 60,001 and over 35% 8,725 Married
See MoreMalta cut down VAT registration threshold to nil in 2015 Budget
The recent budget of Malta for the year 2015 has cut down the value added tax (VAT) registration threshold from EUR 14,000 to nil. The value added tax (VAT) registration threshold is the amount above which an entrepreneur has to register with the
See MoreTax rate down in Malta’s 2015 Budget
Recent budget of Malta for next year contains a reduction of personal income tax (PIT) brackets, through a rate down on income between €19,500 and €60,000 from 29% to 25%. Those who purchasing their first property they can get tax concession and
See MoreMalta: Budget 2015 Supports Female Workforce
Finance Minister Prof. Edward Scicluna underlined that the Budget 2015 embodies the Government’s determination to facilitate access to work for women, adding that this will be done through measures that will encourage women to join the workforce
See MoreMalta: Budget for 2015
On November 17, 2014, the Minister for Finance, Edward Scicluna presents the Budget for 2015. It constitutes the first annual budget within the context of the independently endorsed National Medium-Term Fiscal Plan presented last April, and the
See MoreMalta- Mauritius Signs Double Taxation Agreement (DTA) on October 15, 2014
Malta has signed Double Taxation Agreement (DTA) with Mauritius on October 15, 2014 with a view to avoid double taxation and prevention of fiscal evasion. This treaty awaits
See MoreMalta: No requirement of Mini One Stop Shop (MOSS) Invoices
Malta will not be required to provide VAT invoices in accordance with the normal VAT invoice disclosure requirements of the EU VAT Directive which is applicable to the providers of digital services to consumers. The digital services will
See MoreMalta and United States FATCA Enters Into Force
The Foreign Account Tax Compliance Act (FATCA) agreement (2014) between Malta and the United States entered into force on 26 June 2014. The Agreement, which is a Model 1A, was signed on 16 December 2013. Under the agreement, Foreign Financial
See MoreMalta – Russia DTA
On May 22 2014 the double taxation agreement (DTA) between Malta and Russia is to enter into force. Under the agreement, withholding tax on dividends paid from Russia is restricted to 5% where the recipient company has a 25% shareholding in the
See MoreMalta – Moldova ratified the DTA
Malta has ratified the double taxation agreement (DTA) signed with Moldova. Under the terms of the agreement, withholding tax on dividends paid from Moldova is restricted to 5%, and withholding tax on interest and royalties between the two countries
See MoreMalta and Moldova Sign DTA
Malta and Moldova signed a double taxation agreement (DTA) on 10 April 2014. This is the first DTA signed between these two countries, in an effort to increase trade between them and boost investment on both sides. Malta joined the EU in 2004 and
See More