Maltese Tax Law

Malta’s Commissioner for Revenue has announced a further extension of the deadline for electronic filing of corporate tax returns for the accounting year ended 31 December 2019. Previously extended to 27 November 2020, the deadline is now 16 December 2020. Extension of Corporate Tax Return Electronic Filing Deadline In view of delays that the COVID-19 […]

Malta’s Commissioner for Revenue published an updated version of the Notional Interest Deduction (NID) Guidelines on 7 November 2019. The update concerns the attribution of the deemed interest income on alternative bases and includes the following: Where a shareholder is the only shareholder of a company that holds no more than 0.2% of the nominal […]

Malta Patent Box Regime

Aiming to further increase its competitiveness as a jurisdiction for the holding and development of intellectual property rights, Malta has introduced a Patent Box Regime by means of Legal Notice 208 of 2019 entitled the Patent Box Regime (Deduction) Rules. The rules are applicable as from 1 January 2019 (Year of Assessment 2020), The rules […]

On 11 December 2018, L.N. 411 of 2018 – European Union Anti-Tax Avoidance Directives Implementation Regulations 2018, was enacted transposing the provisions of the EU Anti-Tax Avoidance Directive – Directive (EU) 2016/1164 of 12 July 2016 (the ATAD) with effect from 1 January 2019.   The main thrust of the regulations is to implement the […]

The VAT yacht leasing scheme has recently been a bone of contention for the EU and Malta has sought to appease the EU by amending the Guidelines Regarding VAT Treatment of Yacht Leasing. These Guidelines state that should a lessee be provided with an option to purchase a vessel, being the subject matter of the […]

The Malta Budget Measures Implementation Act (the Act) was passed on 29th March 2018. The below is an update on the most interesting of the measures:   Amendment to the definition of ‘participating holding’: the percentage equity holding requirement has been reduced to 5% (down from 10%) of the equity shares of a company, such […]

The VAT Treatment of Vouchers

On 27 June 2016, the Council of the European Union (EU) issued a press release announcing that it has adopted a directive aimed at increasing legal certainty for transactions involving vouchers by harmonising national value added tax (VAT) rules in this area. The said directive sets out to reduce the risk of mismatches in national tax rules […]

The Malta Residence and Visa Programme is aimed for third country citizens, who are not nationals of the EU, EEA or Switzerland. A beneficiary of the Malta Residence and Visa Programme and their respective dependants shall be will be able to reside in Malta. The Maltese Government has published amendments to the Malta Residence and Visa […]

Aircraft Leasing in Malta

Malta has reinforced its principal position as a dependable jurisdiction for international groups and carries on growing as a centre for aircraft leasing business. The Maltese regulatory and fiscal system has seen a sharp upsurge in popularity as a jurisdiction for international business, predominantly in the creation and establishment of aircraft leasing engagements. Over the […]

On the 1 January 2017, the Family Business Act entered into force, with the purpose to encourage the regulation of family businesses, their governance and the transfer of the family business from one generation to the next. The aim of the incentive is to support and assist family businesses and the transfer thereof from one […]