Malta Budget 2017 – General overview
Finance Minister Prof. Edward Scicluna announced various measures in the Budget Speech for 2017. These include fiscal amendments targeted to enhance investment in shares listed in the Malta Stock Exchange (“MSE“), reduction in stamp duty on transfers of businesses from parents to their children, and other incentives aimed to encourage restoration of properties in an […]
30 June 2016 – deadline for filing of personal tax returns, tax returns for part-time income, tax forms for the flat tax rate of 15% on rental income.
The tax returns for the following income derived during the basis year 2015 are to be filed by not later than 30 June 2016 with the Inland Revenue Department: the personal tax returns; the separate tax return for part-time income to be taxed at the flat rate of 15%; The tax return to be filed […]
Micro Invest Scheme – applications for tax credit in relation to expenses incurred in 2015
Malta Enterprise is currently receiving applications from undertakings (including self-employed individuals) qualifying for the Micro Invest Tax Credit, by virtue of which (subject to certain conditions) any micro enterprises and self-employed persons may benefit from a tax credit equivalent to 45% of eligible expenditure. An additional bonus of 20% (total 65% tax credit) applies to […]
Malta Budget 2016 – General overview
In the Budget speech for 2016, Finance Minister Prof. Edward Scicluna announced various fiscal measures and other social and environmentally friendly incentives. These include a reduction in personal tax across all the different tax rates, a plan to extend the final tax at the flat rate 15% to also cover income derived from the rental […]
Amendments to the VAT Act regarding certain road assistance services
Legal Notice 277 of 2015 (published on 17 July 2015) has amended the Fifth Schedule of the VAT Act. By virtue of such amendments any road assistance services provided in the event of any breakdown or accident to persons who pay a fixed subscription fee for such purpose shall also be considered as an exempt […]
DFK Malta participates at DFK International Conference in Stockholm, Sweden
DFK Malta participated at the DFK International Conference in Stockholm, Sweden, held between 14 and 17 July 2015. The Conference offered excellent opportunities for DFK member firms around the globe to network and update each other on tax issues and other relevant technical subjects. Our firm also attended the International Tax Seminar which was held […]
Reminder: 30 June 2015 – deadline for filing of tax forms for the reduced tax rate of 15% on rental income, personal tax returns and tax returns for part-time income
Reminder: the tax returns for the following income are to be filed by not later than 30 June 2015: The tax return to be filed by any persons opting to declare any income derived from the rental of residential properties and pay tax thereon at the flat rate of 15% (the TA24 form); The TA24A […]
Remission of interest and penalties (VAT)
Legal Notice 75 of 2015 which was published in March 2015 brought into force various amendments to the rules providing for the remission of interest. Such rules have now been extended to provide for the remission of administrative penalties (as well as interest) imposed in terms of the Value Added Tax Act (Cap. 406 of […]
Employment benefits and incentives
The Employment and Training Corporation (the “ETC“) is currently receiving application forms for two new programmes which offer significant benefits to employers seeking to employ individuals in certain categories. The benefits are offered by virtue of the following incentives: 1. The Youth Guarantee Programme; 2. Tax deductions in respect of new employees aged between 45 […]