Tax & VAT News
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Tax & VAT News
Latest news relating to Tax and VAT in Malta. Click below and contact us if you need any additional information.
Drastic reform of EU VAT system on the way
On 4 October 2017 the European Commission proposed a drastic reform of the VAT system of the European Union.
Fringe Benefits Rules Update
On the 8th of August 2017, a new legal notice was published whereby a number of updates and clarifications were effected to the Fringe Benefit Rules.
Tax Credits for relevant qualifications
A new legal notice was published whereby a student shall become entitled to a tax credit after he/she successfully completes a relevant course.
Tax Credits for Research and Development and Innovation Regulations
A new legal notice was published whereby a new Tax Credit for Research, Development and Innovation Regulations was launched.
VAT exemption for the management of Collective Investment and Retirement schemes
Legal Notice 383 of 2016 extended the scope of the exemption relating to management services provided to collective investment schemes and retirement schemes.
Amendments to the Pharmacy of Your Choice Deduction
A legal notice was recently published to amend the Deductions (POYC) Rules targeting the new home delivery scheme as part of the POYC Scheme.
The “Tourist” tax
Amendments to the ECO Contribution Act: Eco-contribution is chargeable at the rate of €0.50 per person per night, subject to a maximum of €5 per person per visit.
VAT and the letting of immovable property
Going forward, VAT is not to be charged on the letting of property to persons who have not been in Malta for 12 months but who are in Malta for employment purpose or for the purpose of establishing a business here
The Common Reporting Standard
The Common Reporting standard was introduced in order to combat cross-border tax fraud and tax evasion posed by undeclared and untaxed income.