06
May
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 […]
27
Apr
The Budget Measures Implementation Act, 2021, published on the 16 of April, includes a new enabling provision (article 51A) that empowers the Minister for Finance to introduce detailed transfer pricing rules. As a result of this provision, the introduction of such rules in Malta appears imminent. This comes as no surprise and follows on the […]
13
Apr
US Treasury financial regulator FinCEN has begun a consultation on implementing the strict new beneficial ownership reporting rules established by the Corporate Transparency Act (CTA). The Financial Crimes Enforcement Network released the notice of proposed rulemaking to give the public its first opportunity to comment on the beneficial ownership disclosure requirements. It said in the […]
09
Apr
The Prime Minister of Malta, Dr. Robert Abela, has announced that the temporary COVID-19 measure providing for a reduction in the tax and stamp duty rates relative to the transfer of immovable property has been extended by four months, and will now apply to preliminary agreements entered into through the end of July 2021. It […]
04
Mar
The UK will repeal the EU Interest and Royalty Directive legislation that was transposed into UK law by virtue of Council Directive 2003/49/EC. The withdrawal of the exemption shall become effective on the 1st June 2021. Consequently, companies that pay interest and royalties to other associated companies incorporated or based in the EU will have […]
23
Feb
The European Union announced today it has removed Barbados from its blacklist of countries it deems non-cooperative in matters of taxation, and added Dominica. The EU’s review of Barbados’ status comes just four months after the bloc’s finance ministers voted to blacklist the Caribbean island. Blacklisted jurisdictions face higher scrutiny, loss of access to EU […]
23
Feb
The Constitutional Court of Belgium has requested a preliminary ruling from the Court of Justice of the EU (CJEU) about exceptions to reporting tax arrangements under the EU Council’s Directive 2018/822 (DAC6). The Constitutional Court of Belgium has requested a preliminary ruling from the Court of Justice On February 19, The Belgium high court, Grondwettelijk […]
12
Feb
On 29 January 2021, Legal Notice 29 of 2021 was published amending the Highly Qualified Persons Rules (the Rules). The amendments came in force as from 31 December, 2020. The Rules were extended for another five years whereby it is possible to apply for the status with the competent authority up until 31 December 2025 […]
13
Jan
On 12th January 2021 Honourable Alex Muscat, Parliamentary Secretary for Citizenship and Communities, together with Mr Charles Mizzi, CEO of Malta Residency and Visa Programme Agency (MRVA), presented a proposal to introduce changes to the Malta Residency and Visa Programme (MRVP). It is being proposed that the new programme will be renamed to Malta Permanent […]
07
Dec
On the 1st of December 2020, Poland and Malta have signed a protocol amending the 1994 income tax treaty. According to the Polish Ministry of Finance, the protocol provides for the implementation of the minimum BEPS standards and, in particular, includes amendments providing for Withholding tax on fees for technical services; Specifically, changes to the […]