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Claim for Deduction of School Transport Fees, Cultural and Creative Courses Fees and Sports Activities Fees

School Transport Fees Parents, who during year 2016 paid school transport fees for their children who are under 16 years of age and who attend a church school or private school during 2016 are allowed a tax deduction against their income. Such deduction is limited to a maximum of €150 per child per annum. A…

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Malta’s Licensing of Skill Games

As all the major participants in the gaming world are gearing up to meet at ExCel, London, the Malta Gaming Authority (MGA) announced its regulation for Skill Games, including a Skill Games Licence for Fantasy Sports Operators. This licence is applicable for both B2C and B2B. This is different from the other class licences offered…

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The Key Employee Initiative

The Key Employee Initiative The newly-introduced Key Employee Initiative is a fast-tracked employment and residence process for highly-specialised Non-EU nationals who would like to work and live in Malta. Eligible applicants: The Key Employee Initiative is aimed at managerial or highly-technical posts requiring particular qualifications or adequate experience. Innovators involved in start-up projects endorsed by…

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Malta Budget 2017 Summary

Please follow the link to view the Malta Budget highlights 2017

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Donations (Sports and Culture) (Amendment) Rules, 2016

As from 1st January 2016, donations made by a company to a non-profit making cultural organisation approved by the Arts Council Malta will be allowed a tax deduction of 150% of the amount donated. The tax deduction is capped at the lessor of such calculated amount or €50,000. Should you require any further information or…

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Part-Time Work (Amendment) Rules, 2016

The following amendments to the Part-Time Work Rules have come into force: As from 1st January 2016, police officers carrying out extra duty work over and above the officer’s normal duties and overtime may benefit from the 15% flat tax rate applicable under the Part-Time Work Rules. To benefit from these rules, police officers need…

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Qualifying Employment in Aviation (Personal Tax) Rules – Subsidiary Legislation 123.168

The significance of the aviation sector in Malta and its contribution to the country’s economy led to the drafting of such tax rules in relation to Qualifying Employment in Aviation targeting specific skills and professions in the aviation area. Such rules are effective in relation to employment income from eligible offices as from 1st January…

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Claim for Deduction of Sports Activities Fees

Individuals, who during the 2015 paid fees for their children under 16 years of age to attend a sports activity, are allowed a deduction against their income in relation to sports activities fees paid. Such deduction is capped to €100 per child. A claim for deduction for each child in relation to sports activities feesis…

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Expenses allowable for tax deduction purposes will highly depend on presentation of valid VAT invoices.

Expenses allowable for tax deduction purposes will highly depend on presentation of valid VAT invoices. The 2016 Budget Measures Bill proposes that from year of assessment 2017, all expenses will be considered allowable for tax deduction, only if the invoice/fiscal receipt presented is valid for VAT purposes. Should the new provision be enacted, it will…

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GAPSME and related changes to the Maltese Companies Act

General Accounting Principles for Small and Medium-Sized Entities (GAPSME) The E.U. Single Accounting Directive 2013/34/EU has brought about a new set of financial requirements which repeal the 4th and 7th Accounting Derivatives on individual and consolidated accounts.  The aim for this new change is to simplify the preparation of the statutory financial statements for those…

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