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02
Dec

Launch of the Malta Start-up Residence Programme

The Residency Malta Agency together with Malta Enterprise has recently launched The Malta Start-up Residence Programme, which grants its beneficiaries a three-year residence permit renewable for a further 5 years, as well as eligibility for long-term residency in Malta. The programme is designed to boost Malta’s competitiveness and attract innovative start-ups and qualified entrepreneurs to […]

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06
May

Malta Ratifies Pending Protocol to Tax Treaty with Switzerland

Malta has published Legal Notice No. 198 of 2021, which contains the Relief of Double Taxation between Malta and Switzerland. The Legal Notice provides for the ratification of the amending protocol to the 2011 income tax treaty with Switzerland, which was signed on 16 July 2020. The protocol is the first to amend the treaty […]

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02
Sep

Guidelines in relation to the Anti-Tax Avoidance Directives Implementation Regulations

As empowered by Article 98(2) of the Income Tax Act, the Commissioner For Revenue has, on 31 August 2020, published a set of guidelines (the Guidelines) concerning the scope, interpretation and application of the Anti-Tax Avoidance Directives (ATAD) Implementation Regulations (S.L.123.187.) with particular reference to the Interest Deduction Limitation rules, Exit Taxation, Controlled Foreign Company […]

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20
May

EU issues formal notice to 17 member states over money laundering directive

More than half of the EU's member states have failed to fully implement the bloc's 5th Anti-Money Laundering Directive onto their respective statute books, the European Commission (EC) confirmed today. The EC, the EU's executive arm, said 17 countries had missed the official deadline of 10 January 2020. The EC has sent letters of formal [...]
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06
May

Malta Covid-19 Update

As a consequence of the disruption caused by the COVID-19 pandemic, the Office of the Commissioner of Revenue has approved several extensions to the statutory reporting deadlines.   Tax Deferral Scheme Extension The scheme allowing deferral of taxes due in March and April 2020, is now extended up to and including June 2020. In order [...]
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24
Apr

Malta Covid-19 Measures Update

  Deferral of payment of certain duties and taxes Duty Following to the proposal of the Customs Department to defer certain excise duty payments, Legal Notice 146 of 2020 (Deferment of Excise Duty payable during the Months of April and May 2020 Regulations, 2020) was published. The notice prescribes, that: Duty on all excise goods [...]
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09
Apr

Malta Retirement Programme, now open to non-EU applicants

Malta, a European country located in the heart of the Mediterranean, enjoys 300 days a year of sunny weather, crystal clear sea waters and warm climate throughout the year. English is one of its two official languages, it enjoys excellent healthcare and has a low crime rate, making Malta one of the most attractive destinations [...]
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01
Apr

Budget Measures Implementation Act 2020

On 20 March 2020 numerous measures announced in the Budget Speech were enacted by means of Budget Measures Implementation Act. Here is a short summary of the legislative updates: Income Tax   Income tax on overtime From 1st January 2020, taxpayers may opt to have his/her qualifying overtime income subject to tax of 15%. The [...]
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30
Mar

International and Local Measures in Response to COVID-19 Pandemic

The global fight against Coronavirus has mobilized all international bodies, amongst them European Union and international organizations, which have already come up with recommendations, initiatives and proposals. EU Following the informal video conference on 26 March 2020, the members of the European Council adopted a statement on the EU actions in response to the COVID-19 [...]
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25
Mar

SECOND PACKAGE OF BUSINESS SUPPORT MEASURES IN RESPONSE TO COVID-19

The Government of Malta, after negotiations with the Central Bank and the social partners of the Malta Council for Economic and Social Development, announced on 24th March 2020 a total aid package of €70 million per month. The measures announced are aimed at supporting employers who are struggling to pay salaries and preserving employment of [...]
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