The Commissioner for Revenue published guidelines on the Mandatory Automatic Exchange of Information in relation to Cross-Border Arrangements to compliment Subsidiary Legislation 123.127, Cooperation with Other Jurisdictions on Tax Matters Regulations which in return transposed the tax initiatives taken at…
In line with the announcement made during the Budget Speech for 2021, legal notice 463 of 2020 was published to amend the ‘small undertaking’ thresholds in Article 11 of the VAT Act. Once the legal notice becomes effective, the period to…
By virtue of L.N. 428 of 2020, the Double Taxation Agreement (DTA) with the Russian Federation was amended and entered into force with effect from 1 January 2021. The changes relate to Article 10 on ‘Dividends’, Article 11 on ‘Interest’,…
The VAT treatment on reimbursements has always presented challenges as to whether reimbursements are subject to VAT or whether these fall outside the scope of VAT since this matter is not directly addressed in the VAT Act. Recently, the Court…
The Malta Business Registry (MBR) issued a guidance document with respect to the Register of Beneficial Owners (RBO) to assist with the identification of the Beneficial Owner/s (BO) or Senior Management Officials (SMO). Please be informed that any changes…
Introduction and the economy The Minister of Finance, Economic Development and Planning announced that this year the GDP is expected to decrease by 7.4%. However, the government is anticipating a recovery next year of 5% in real terms and 6.4%…
The Management of Avanzia Taxand is pleased to announce that for the second consecutive year, The World Tax ranked the firm as Tier 1 for Private Clients. The firm is also ranked as a Tier 2 firm in Tax and…
Following the implementation of the EU Directive 2016/1164 (ATAD1) by means of Subsidiary Legislation 123.187, the Maltese tax authorities issued official guidelines with respect to the Interest Deduction Limitations, CFC and Exit Tax. The guidelines also include examples and…
Since the start of the COVID-19 pandemic, the Maltese Government launched €900 million worth of fiscal incentives to stimulate the economy and mitigate as much as possible the negative impact of this pandemic on the local economy. The incentives are…
The COVID-19 pandemic continues to spread in various countries around the globe and Malta is no exception. The hit on the economy is expected to be significant given that one of the main drivers of the Maltese economy, tourism, is…