Author Archives: Zampa Debattista

Accounting for the €100 voucher versus other types of vouchers

The Maltese government is issuing five vouchers with a total value of €100 to everyone over the age of 16, as one of its measures implemented to regenerate the economy following the Coronavirus pandemic. Four of these vouchers can be spent at any establishment licensed under the Malta Tourism Authority, including hotels, restaurants, bars and […]

EXO Numbers – Article

25 years ago, the Maltese Parliament enacted the Value Added Tax Act.  This ‘anniversary’ passed by unnoticed.  COVID-19, rightly so, is taking centre stage. Back then, it was a time when Malta was at a crossroad and started shifting its tax base, from direct to indirect taxation.  Without going into the historical or the political […]

Covid-19 – June Budget 2020

Following the COVID19 Pandemic, on 8th June 2020 the Government of Malta announced an additional financial budget for 2020 aimed at the regeneration of the Maltese economy, which will facilitate the next step towards normality through a number of tax cuts and spending stimulus. Property and Construction Property Transfer Tax will be reduced from 8% […]

IASB Issues Amendment To IFRS 16 ‘Leases’: COVID-19-Related Rent Concessions (Lessee Accounting)

Rent concessions include, for instance, rent holidays, and temporary rent reductions – a reality following the advent of COVID-19. A simplification is now available to IFRS preparers accounting for COVID-19-related rent concessions given that a number of criteria are met: Criteria 1: The change in lease payments results in revised consideration for the lease that […]

VAT Services – EU VAT Refunds

Would it be news if we had to tell you that you are able to reclaim back input tax incurred locally on costs used in the furtherance of your business?  If you are a person who carries on or intends to carry on an economic activity within the scope of VAT and you are identified or opt to be identified for VAT purposes under Article 10 of the Malta […]

VAT APPEALS – Administrative Review Tribunal

Download VAT Appeals Administrative Review Tribunal This May marks the eight year since the commencement of the hearing of VAT appeals cases by the Administrative Review Tribunal instead of the VAT Appeals Board.  The terms of reference of this Tribunal are laid down in the Vat Act or Chapter 406 of the Laws of Malta and The Administrative Justice Act or Chapter 490 of the Laws of […]

Categories: VAT

EU Funding for e-Commerce

Authors: Kris Bartolo & Lisa Apap Are you searching for ways to minimise the repercussions brought about by COVID-19 by increasing your market share and reaching new markets? Have you considered offering your products or services online? COVID-19 has taken the business world by storm, forcing most enterprises to re-think their business strategy. In a time […]

VAT Newsletter Q.1 – 2020

Download VAT Newsletter – Q1 2020  Dear Subscriber, Due to the Covid-19 pandemic, the offices of Zampa Debattista are on lockdown to safeguard the safety and well-being of our staff and their families. Although we are working remotely, we remain resolute to continue to provide our services and assist our clients in the best possible way […]

Categories: VAT

Auditing implications caused by COVID-19

Authors: Ryan Magri & Daniel Camilleri The emergence of the novel Coronavirus (COVID-19) pandemic has shook the world and changed almost every aspect of our personal and commercial world as we know it.  Auditing is no exception to this, and this will undoubtedly be a key focus of many current and forthcoming financial audits given that uncertainty […]