DFK Malta has just won the DFK EMEA Website of the Year Award 2015. This award was presented to the firm in February 2015 at the conference held in Cyprus for the DFK Member firms from Europe, the Middle East and Africa (the “EMEA” region). It was presented to Joseph Camilleri (partner – DFK Malta […]
Guidelines for Bad Debt Relief claims (hereinafter referred to as the “Guidelines”) were issued recently by the VAT Department in terms of the provisions of the Tenth Schedule of the VAT Act (Cap. 406 of the Laws of Malta). The Guidelines provide the relevant conditions and procedures that must be followed to claim Bad Debt […]
The VAT mini One Stop Shop (‘MOSS‘) will come into effect on 1 January 2015. These rules are applicable to taxable persons supplying telecommunication services, television and radio broadcasting services and electronically supplied services to non-taxable persons in Member States in which they do not have an establishment. For further information about these rules kindly […]
In the Budget speech for 2015, Finance Minister Prof. Edward Scicluna announced various fiscal measures. The final stage of the reduction in the personal income tax rates and an overhaul of the income tax regime for the transfer of immovable property were among the principal income tax measures presented. In terms of VAT and indirect […]
By virtue of Legal Notice 393 of 2014, the forms to be completed by persons opting to declare any income derived from the rental of residential properties and pay tax thereon at the flat rate of 15% were published. The enactment of Act No. XXXVII of 2014 also introduced certain amendments to this regime – […]
David Farrugia, Director at DFK Malta Tax & Consultancy Limited was one of the speakers at the VAT & EU Symposium organized by the Malta Institute of Management on 15 October 2014 at the Xara Lodge. This conference is an annual event which attracts various foreign and local leading experts to participate and discuss the […]
New guidelines for the Investment Aid Tax Credits were published recently by Malta Enterprise. The guidelines form the basis of the new investment aid scheme which will be in force between 1 July 2014 and 31 December 2020. Qualifying undertakings benefit from tax credits which are quantified as a percentage of qualifying expenditure incurred in […]
Legal Notices published on the 8 August 2014 have introduced the Residence Programme Rules 2014 and amended the Malta Retirement Programme Rules. The Residence Programme Rules 2014 The Residence Program Rules 2014 (the “RPR”) were introduced by virtue of Legal Notice 270 of 2014 and are effective from 1st July 2013. The RPR effectively […]
Recently the Investment Registration Scheme Regulations 2014 (the “Regulations“) were published. The Regulations provide the framework of the Investment Registration Scheme 2014 (the “Scheme”) which enables residents of Malta owning eligible assets (as defined therein) to regularise their position and to benefit under the exemptions referred to in Article 9B of the Income Tax Act. […]
Recently various amendments were effected to the Income Tax Act in order to implement specific measures which were announced in the Budget Speech. These measures include various benefits in the form of additional deductions from the taxpayer’s chargeable income and other amendments to the Part-Time rules by virtue of which the applicability of the 15% […]