Budget Newsletter 2024

Introduction The budget for 2024 was presented by the Minister of Finance and Employment yesterday evening. In his introduction the Minister indicated that notwithstanding the global turmoil the Government was committed to maintain the energy subsidies to curb inflation. Cereals…

Budget Newsletter 2023

Introduction The budget speech for 2023 was presented by the Minister of Finance and Employment yesterday evening with the promise of yet another year without the introduction of any new taxes despite the economic uncertainties. Most of the measures are…

Budget Newsletter 2022

Introduction The budget speech for 2022 was read by the Minister of Finance and Employment last night and as previously announced no new taxes were introduced. Instead, various measures were proposed to assist low-income earners and persons in the brink…

Budget Newsletter 2021

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%…

Reduction in interest rate

By virtue of two separate legal notices, the interest on late payments of income tax and VAT has been reduced from 0.54% to 0.33% per month. The change is effective from 1 January 2020.

WORLD TAX 2020 Edition

Avanzia Taxand is pleased to announce that The World Tax 2020 edition ranked the firm as Tier 1 in Private Client and Tier 2 in General Corporate Tax. The details of these rankings may be accessed through the following link:...

Budget Newsletter 2020

On 14 October 2019, the Honourable Minister for Finance, Professor Edward Scicluna, presented the Budget for the coming year. In his introduction, he summarised the most salient features in relation to the performance of the Maltese economy with the main...

Taxation of DLT Assets

The Maltese Tax Authorities issued guidelines in connection with the income tax, VAT and duty on documents implications arising from transactions or arrangements involving DLT assets. The following is a list of definitions included in the guidelines: wdt_ID Category...

Anti-Tax Avoidance Directive (ATAD)

During the Budget speech for 2019 presented on 22 October 2018, it was announced that Malta, like other EU Member States, will be implementing the EU Directive on Anti-Tax Avoidance, more commonly known as ATAD1. Although no detailed provisions...

Budget Newsletter 2019

On 22 October 2018, the Honourable Minister for Finance, Professor Edward Scicluna, presented the Budget for 2019. The introductory part of the budget speech was dedicated to some features of the Maltese economy, which may be summarised as follows: GDP...