Author Archives: Matthew Zampa

VAT Newsletter Q4 – 2018

  Contents Local news European news Update of CJEU decisions 1       Local news 1.1       Legal Notice 434 of 2018 published on 14/12/2018 The legal notice carries an amendment to Item 5 of the Eight Schedule to the VAT Act and provides that as from 01/01/2019, audio books, books and similar printed matter which are supplied […]

Categories: VAT

VAT Grouping in Malta – important update

On line registration for VAT as a single taxable person has recently been enabled on the Commissioner for Revenue web portal. VAT Group registration was formally introduced in Malta as from 1st June 2018 following the publication of Legal Notice 162 of 2018. It allows for two or more legal persons that are established for […]

Extension for the Reduced Stamp Duty Rate of 1.5%

By virtue of Legal Notice 320 of 2018, Duty on Donations of Marketable Securities and Immovable Property Used for Business (Exemption) (Amendment) Order 2018 published on 9 October 2018, the deadline to benefit from the reduced stamp duty rate of 1.5% payable on intra-family donation of marketable securities or on donation of a commercial tenement […]

Categories: TAX

Accounting for Interest-Free Loans

Let’s say Company A lends €100,000 to Company B repayable in full upon maturity, in 3 years time, at 0%, when the market interest rate is 8%. Situation 1: Assume this is done ex-gratia by Company A, that is Company A attaches no conditions with this interest-free loan. Situation 2: Assume Company A provides this […]