News

13
Jul, 2015

Clarification by IRD – Reduced tax rate on rental income

The Commissioner for Revenue has published on its website a clarification on the application of the 15% final reduced tax rate on rental income derived from the letting of residential teneme ...

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30
Jun, 2015

Stephen Balzan attends the EuropeFides Conference in Barcelona

Stephen Balzan, Tax and Corporate Services Partner of ACT attended the EuropeFides Conference held on the 26th and 27th June 2015 in Barcelona.  The conference which was hosted by the S ...

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15
Jun, 2015

Amendments to the Tax Accounting Rules

By virtue of L.N. 183 of 2015, the Maltese tax authorities have made some amendments to the Tax Accounting Rules, which will be applicable as from year of assessment 2015.  The followin ...

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15
Jun, 2015

The United Nations Pensions Programme Rules 2015

By virtue of a new Legal Notice, the Government of Malta has issued new rules which provide for an exemption from income tax to beneficiaries who are in receipt of a pension or a widow&rsquo ...

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08
Jun, 2015

Increase in Tax Credits for Maltese Personal Pension Schemes

LN 117 of 2015, which was published on the 2 June 2015, has raised the maximum amount of tax credit provided for by Article 57(1)(b) of the Income Tax Act from €150 to €300. Throu ...

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04
Jun, 2015

Guidelines on Professional Health Services

The Maltese VAT Department has recently issued new Guidelines for the VAT treatment of Professional Health Services, which are intended to provide Guidance on the application of the VAT exem ...

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01
Jun, 2015

New appointment at ACT

ACT is proud to announce that with effect from 1st May 2015, Ms. Graziella Vella has been appointed as a new manager in the Accounts Department of ACT.  Graziella is an accountant by pr ...

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01
Jun, 2015

OECD releases discussion draft on BEPS Action 8 (CCAs)

On April 29, 2015, OECD released a discussion draft under the BEPS (Base Erosion and Profit Shifting) project, more specifically concerning the Action 8 (Assure that transfer pricing outcome ...

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01
Jun, 2015

OECD releases discussion draft on BEPS Action 11

On April 16, 2015, OECD released a discussion draft under the BEPS (Base Erosion and Profit Shifting) project, more specifically concerning Action 11 (Establish methodologies to collect and ...

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27
May, 2015

New IRD Guidelines on the transfer of an individual’s residence

The Maltese Inland Revenue Department has issued a guideline on the amendment to Article 5(5)(c) of the Income Tax Act made through Act XIII of 2015 This provision introduced some limitatio ...

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18
May, 2015

The Budget Measures Implementation Act 2015

Following the presentation of the Budget by the Minister for Finance back in November of last year, the Budget Measures Implementation Act XIII has on the 30th of April 2015 been enacted by ...

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23
Mar, 2015

EC presents Tax Transparency Package against tax avoidance

The European Commission recently presented a package of tax transparency measures as part of its ambitious agenda to tackle corporate tax avoidance and harmful tax competition in the EU. A k ...

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23
Feb, 2015

Stephen Balzan Tax Partner ACT interviewed by Gold Magazine

In January of this year, Stephen Balzan, Tax Partner of ACT was interviewed by Gold Magazine during the Annual General Assembly held by EuropeFides in Nicosia Cyprus.  Gold Magazine, wh ...

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06
Feb, 2015

ACT represented at the ICE Totally Gaming Fair 2015 in London

Stephen Balzan and Denitza Dimitrova attended the ICE Totally Gaming Fair which took place in London from the 3rd to the 5th February 2015.  For more information on the services we prov ...

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28
Jan, 2015

Stephen Balzan Tax Partner of ACT becomes President of EuropeFides

After the General Assembly of EuropeFides held in Nicosia Cyprus on the 23rd and 24th January 2015, Stephen Balzan Tax Partner of ACT started his one year term as President of EuropeFides.&n ...

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Corporate Taxation
in Malta

Maltese companies are subject to tax at the rate of 35% on their world wide income and capital gains.   Malta grants various fiscal incentives to both companies and their shareholders upon distribution of a dividend.  Malta is a membe...

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Setting up a Company
in Malta

Setting up a company in Malta is a relatively straight forward procedure and can be set up within 2 working days, provided we are in receipt of all the information, funds and due diligence documentation we need. The Act that regulates Malte...

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Taking up Residence
in Malta

Warm climate, friendly people, excellent communication infrastructures, low criminality and many other features of the Maltese islands have made Malta an excellent destination for people to take up residence in. Moreover low rates of taxati...

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Remote Gaming
in Malta

Malta was the first EU Member State to specifically regulate the remote gaming industry in 2004 and has ever since established itself as one of the prime jurisdictions for remote gaming operators. The Malta Gaming Authority (“MGA”) is the regulatory of gaming in Malta. The success o...

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Payment Institutions
in Malta

Malta has become a destination of choice for the setting up of Payment Institutions (also referred to as Payment Services Providers or PSPs).  A number of advantages has contributed to this success, mainly but not limited to the fiscal incentives granted not only to the payment institutions ...

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Electronic Money Institutions
in Malta

Malta has recently seen an increase in the number of Electronic Money Institutions (EMIs) looking to set up their operations in Malta.  This has been largely due to the growth in the e-commerce and the i-gaming industries.  Such EMIs are regulated by the Financial Institutions Act and t...

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Initial Coin Offering (ICO) Services
in Malta

Malta has always been on the forefront of technology and innovation.  In the past months, a number of initiatives have been launched, aimed at establishing an innovative and attractive regulatory framework for entities operating in blockchain (and distributed ledger technologies), virtual cu...

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Prospects – Services of a Corporate Advisor
in Malta

‘Prospects’ is a new platform set up by the Malta Stock Exchange in line with its commitment to open up new capital market opportunities, create economies of scale and to afford businesses more competitiveness and sustainability.  Through ‘Prospects’, SME’s wil...

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Assistance to Family Businesses
in Malta

Malta has recently introduced legislation to encourage good governance in the management of family businesses, to assist family businesses to operate their business in an efficient way and to assist such family businesses to transfer their business from one generation to the other.  Malta is...

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