Tax
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
Meanwhile, the inflation Index for 2020: 892.51
For more information, kindly contact us on: +356 27037012
Our team advises international businesses on compliance and corporate services in Malta. Arrange a free consultation to discuss your specific situation.
You will speak with
Andrew Fenech
Business Development Manager
In practice, it is common for landlords to recharge tenants for expenses such as water, electricity, cleaning, and maintenance. These recharges often accompany rental payments and may appear straightforward, but their VAT treatment can differ significantly depending on how they are structured.
Company officers must remain vigilant of their obligation to register for VAT purposes in Malta, along with submitting their periodic VAT returns on time to remain compliant with the statutory requirements, keep their company in good standing and avoid the imposition of the applicable penalties.
UPDATE - In the case of a married couple who are living together, any of the spouses may elect to submit a separate tax return if both spouses earn qualifying income or where the couple has a separation of assets agreement in place. The application for such an election is done online through the e-I
