Fiscal Unit for the basis year 2021 can now be submitted
UPDATE – Borg Galea & Associates would like to inform our clients that benefit from the fiscal units, that their fiscal unit consolidated tax return for the basis year 2021 can now be submitted. For more information on the submission of income tax returns, kindly contact us on: +356 27037012
Updates on the corporate tax returns for the basis year 2021
UPDATE – Borg Galea & Associates would like to inform our clients that their corporate income tax return for the basis year 2021 can now be submitted. We would also like to notify you that there have been some minor changes to the income tax return which reflect the optional Covid-19 extension granted by […]
The corporate tax return for basis year 2021 is now available!
UPDATE – Borg Galea & Associates would like to inform our clients that the electronic corporate income tax return for the basis year 2021 is now available online. However, since the facility to upload and submit this return will only be made available from mid-June 2022 onwards, further notification will be made on the date […]
The corporate tax return for basis year 2021 is now available!
UPDATE – Borg Galea & Associates would like to inform our clients that the electronic filing of income tax returns for companies have been extended accordingly:
Submission of the income tax returns for the basis year 2021
UPDATE – Borg Galea & Associates would like to inform our clients that the deadline for physical income tax return submission shall end on the 30th day of June of the year 2022. However, choosing to submit your tax return online grants us a further one-month extension, till the 31st day of July of the […]
Guidance Note on the Importation of Bank Notes (CN 49070030)
UPDATE – Borg Galea & Associates would like to inform our clients that, by default, the VAT rate for the importation of bank notes that are classified under CN code 49070030 is 5%. However, where the importation of bank notes constitutes a financial transaction concerning banknotes in circulation used as legal tender, exemption from import […]
Guidance Note on the Entities that are Eligible for Deduction Claims
UPDATE – Borg Galea & Associates would like to inform our clients that the following entities are eligible to claim a Deduction on their income tax. Basis Year – 2021 1. Childcare Centres Name of Centre 1 ABC Childcare Centre San Ġwann 2 Active Learning Childcare Centre Msida 3 Active Learning Childcare Centre […]
Press Release from the Ministry of Finance and Employment – Tax Deferral Scheme
UPDATE – Borg Galea & Associates would like to inform our clients that the Ministry for Finance and Employment has released a Press Release in relation to the repayment of taxes that were eligible under the Tax Deferral Scheme. Link available at: https://www.gov.mt/en/Government/DOI/Press%20Releases/Pages/2022/05/11/pr220596.aspx For more information, kindly contact us on: +356 27037012
Press Release from the Ministry of Finance and Employment – Tax Deferral Scheme
UPDATE – Borg Galea & Associates would like to inform our clients on several publications made by the Ministry of Finance of Employment. Firstly, the guidelines on the Mandatory Automatic Exchange of Information in relation to Cross-Border Arrangements are available here. Furthermore, FAQs on the Mandatory Automatic Exchange of Information in relation to Cross-Border […]
Guidance on the 2021 Annual Average Exchange Rates of the Euro
UPDATE – Borg Galea & Associates would like to inform our clients that the average exchange rate for the Euro (EUR) for 2021 used by the tax department in Malta is: UK Pound Sterling 0.8596 US Dollar 1.1827 Canadian Dollar 1.4826 Australian Dollar 1.5749 Swiss Franc 1.0811 Japanese Yen 129.88 Chinese Yuan Renminbi 7.6282 […]
