On November 17, the Commissioner for Revenue published the DAC6 XML Schema and the DAC6 XML Schema User Guide, which shall be used by taxpayers and intermediaries for filing information in relation to reportable cross-border arrangements. This obligation stems from the Council Directive (EU) 2018/822 (‘DAC6’) , which was implemented into the Maltese legislation by the virtue...
Earlier this year it was announced that the tax treaty between Malta and Russia will be amended. On the 10th of November by the means of the legal notice 428 of 2020 three major changes have been introduced the  amendments to   the   convention   between   the government of Malta and the government of the Russian  Federation ...
Registered unemployment has been on the decline for 2 consecutive months. In view of this, Kurt Muscat, Senior – Executive Advisory Services at EMCS states, “government’s efforts to reduce unemployment seem to be having a positive effect, however, this is not occurring evenly between all age groups. Furthermore, one needs to keep a close eye...
On the 14th of August the government of Malta and Russia reached an agreement in negotiating new terms of the double taxation treaty (“DTT”), which was originally signed in 2013. According to these amendments the withholding tax rate for interest and dividend payments have been increased to 15% (instead of 5%). This rule will not...
On July 16, 2020 Malta and Switzerland signed a protocol amending the existing agreement for the avoidance of double taxation with respect to taxes on income (DTA). This protocol drafted to include the OECD standards and recommendations in terms of the Base Erosion and Profit Shifting (BEPS) action plan. The following provisions of the agreement...