Malta: Planning to merge Revenue departments
The government of Malta is planning to merge the Inland Revenue Department, Customs Department and the VAT Department into one central revenue authority. This follows the trend in a number of countries worldwide who have merged their direct and
See MoreTax treaty signed between Malta and Macau
The governments of Malta and Macau recently signed an agreement to work together to prevent tax evasion and tax avoidance. Macau is a part of the People’s Republic of China but operates as a separate jurisdiction for some purposes. It is expected
See MoreMalta and US FATCA negotiations oncluded
Recently negotiations concerning an Intergovernmental Agreement (IGA) relating to US FATCA regulations (FATCA) have been concluded between Malta and the US. Financial institutions must comply with certain prescribed reporting obligations for the
See MoreIndia and Malta have signed a new Double Taxation Avoidance Agreement
India and Malta have signed a new Double Taxation Avoidance Agreement (DTAA) on April 8 2013. The provisions of the treaty generally follow the provisions of the OECD Model but the definition of a permanent establishment includes a building site or
See MoreMalta and Norway DTA enters into force
A double tax agreement (DTA) between the Government of Malta and the Norwegian Government, signed on 30 March 2012, entered into force on 14 February 2013. New provision will come into application from 1 January, 2014 and these will replace the old
See MoreMalta: Taxation of directors’ fees clarified
The tax authority of Malta clarifies the tax treatment of fees received by non-resident directors from companies resident in Malta. For this clarification, Malta tax authority has released a guidance note. Where the company is a resident, income
See MoreMalta to Amend SICAV Reporting Rules
On 30 October 2012 it has been published that the Malta Financial Services Authority (MFSA) has announced a number of legislative proposals to update the reporting requirements for Collective Investment Schemes. Presently there is a disparity in the
See MoreMalta Signs TIEA with Gibraltar
On 27 January 2012 it was reported that Malta has welcomed the signing of a Tax Information Exchange Agreement (TIEA) with Gibraltar. Under the agreement both countries will provide tax information on request when there is evidence of fiscal
See MoreTurkey and Malta sign new double taxation treaty
On 14 July 2011, the governments of Malta and Turkey signed a new income tax treaty for the avoidance of double taxation. The treaty will enter into force once both countries complete the exchange of ratification procedures, and its provisions will
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