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 […]
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 […]
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 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: 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 […]
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 […]
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 […]
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 […]