Malta Mini-Budget June 2020 Fiscal Measures Support Yesterday, the government of Malta has announced a new set of initiatives to help the economy get back on track. These were the most salient points which were announced yesterday: Consumption • Cash vouchers of €100 for those aged over 16. • Fuel prices reduced by 7c. Immovable Property • Reduction from 8% … Read More
AMENDMENTS TO THE FRINGE BENEFIT RULES 2017
AMENDMENTS TO THE FRINGE BENEFIT RULES 2017 In August 2017 a legal notice L.N. 205 of 2017 was issued which amended the Fringe Benefits Rules. A new rule 3A has been added, and provides that fringe benefits are deemed to arise in the country where the services in terms of the relative contract of employment or office are wholly or … Read More
Notional Interest Deduction Rules
Notional Interest Deduction Rules October 1, 2017 In October 2017, a new Legal Notice (L.N. 262 of 2017) regarding Notional Interest Deduction Rules, was published. This Legal Notice introduces the concept of interest on risk capital which is deductible against the income for the year of an undertaking. These rules apply as from calendar year 2017 (year of assessment 2018). … Read More
VAT LEGISLATION IN MALTA
Value Added Tax in Malta is regulated by the Value Added Tax Act Chapter 406. Part 2 of the Fifth Schedule to the Value Added Tax Act provides for exempt without credit supplies. Most of the financial services offered are considered to be exempt without credit supplies.