MALTA-RUSSIA DOUBLE TAX TREATY REVISED
Malta and Russia signed amendments to the Double Taxation Relief (Taxes on Income) (Russian Federation) Order, which were published on 10 October 2020 in virtue of LN428 of 2020. These amendments were signed on 1 October 2020 and will enter into force on such date as may be announced in the Government Gazette. read more →
TAXATION OF ROYALTIES ON QUALIFYING LITERARY WORKS
The proposed provision in the Budget Measures Implementation Bill will apply to individuals in their capacity as author of a qualifying literary work by virtue of their title to the copyright on that work conferred by the Copyright Act. It will allow the said individual to opt for taxation at 15% on the gross amount of.. read more →
EU list of non-cooperative jurisdictions updated
EU list of non-cooperative jurisdictions for tax purposes: Anguilla and Barbados added, Cayman Islands and Oman removed. On 6 October 2020 the EU list of non-cooperative jurisdictions was updated as follows: Anguilla and Barbados were added to the EU list; Cayman Islands and Oman were removed from the list. Following this update, twelve jurisdictions remain on the.. read more →
Rules published on Exemption from tax on certain property transfers
Rule 4 provides that subject to the provisions of rule 6 (which contains rules for ‘structured arrangements’), a person who makes a transfer to which these rules apply shall be exempt from the tax otherwise chargeable on that transfer in terms of article 5A of the Income Tax Act to the extent that it exceeds.. read more →
Legislation published on Stamp Duty reduction on property transfers
The new article 5 of the Order provides that in the case of a transfer inter vivos of immovable property or any real right over such property made on or after the 9th June 2020 but before the 1st April 2021, the duty otherwise chargeable in terms of the Duty on Documents and Transfers Act.. read more →