Fiscal Unit Tax Payment Deadline

UPDATE – Borg Galea & Associates would like to inform our clients that the tax payment deadline of 18 months following the end of the accounting period is applicable to companies in possession of a determination under the relevant paragraphs of Article 47 of the Duty on Documents and Transfers Act (DDTA determination), shall for the Year of Assessment 2023 apply also with respect to tax payable by a fiscal unit on its chargeable income provided that all members of the fiscal unit are either in possession of the DDTA determination or non-resident companies not liable to tax in Malta.

With respect to fiscal units not entitled to the 18-month extension as per above, the deadline for the payment of settlement tax with respect to Year of Assessment 2023 is applicable to companies not in possession of a DDTA determination.

For the avoidance of doubt, tax payable on chargeable income allocated to the foreign income account of the principal taxpayer shall in any case become due within 18 months after the end of the accounting period.

For more information, kindly contact us at: +356 2703 7012 or send an email to tax@borggalea.com.

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