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 […]

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 […]

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 […]

Tax Payment Deferral Scheme

  In response to the negative effect of the pandemic of COVID-19 the Maltese Government has introduced a number of fiscal measures to support Maltese entrepreneurs.  We outline below the main measures, which are directed at improving liquidity and easing the pressure on cash flow, particularly by way of a tax deferral whereby tax can […]


Malta has promised it will soon implement the EU’s latest anti-money laundering rules that should have been transposed into national law by January 10, as the jurisdiction will be hit with infringement procedures later this month if it fails to do so. Under the 5th Money Laundering Directive (MLD5), that all EU states are supposed […]

The Financial Intelligence Analysis Unit is notifying subject persons and all interested stakeholders that the European Commission has launched a public consultation on an EU regulatory framework on crypto-assets (virtual financial assets). The consultation, which takes the form of a questionnaire, is not specific to AML/CFT matters but does include some questions on the topic. […]

Some EU countries are calling for tougher sanctions on jurisdictions that facilitate tax avoidance in a move that is likely to spark a dispute with EU members like Luxembourg and Ireland. According to a document prepared by the Danish government and seen by Reuters, a group of European Union countries are urging for a discussion on […]

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 […]

 Change would narrow regulations on overseas tax breaks  Republicans say rules aren’t necessary after 2017 tax overhaul Treasury Department officials are considering rolling back a tax rule aimed at preventing American companies from moving money offshore to avoid U.S. taxes, according to several people familiar with discussions. The Treasury is looking at regulations intended to […]