MALTA: Malta: VAT (Amendment) Act 2024 Published

The Maltese Official Gazette announced the publication of Act No. XXXVIII/2024, titled the VAT (Amendment) Act, 2024. The legislation introduces several changes to Malta’s value-added tax framework, which will take effect on January 1, 2025.

The law includes the following updates:

  1. Adjustment of acquisition threshold schedules for VAT purposes.
  2. Harmonization of taxation and registration requirements in line with EU Directive 2006/112/EC.
  3. Introduction of a special regime for small enterprises, applicable to:
    • Supplies made within Malta,
    • Supplies within other EU member states, and
    • Transactions involving persons not established in Malta.
  4. Procedures for VAT cancellation and re-registration, detailing the administrative steps for these processes.
  5. Clarification of tax period commencement, specifying that a registered person’s first tax period begins on the date of registration.

This legislative update ensures alignment with EU standards while addressing specific aspects of Malta’s VAT system.

1 March 2024

US: IRS Investigating People Earning Above Certain Threshold

he Internal Revenue Service (IRS) has announced it will crack down on ultra-rich earners who have not filed tax returns in recent years. Starting this week, the government agency will attempt to claw

Read More
29 November 2024

EU: EU Ends State Aid Probes Into Fiat, Amazon, Starbucks

The European Commission has closed three in-depth State aid investigations into transfer pricing tax rulings granted by Luxembourg to Fiat and Amazon, and by the Netherlands to Starbucks. Following

Read More
19 September 2025

US: FinCEN plans to delete data on U.S. companies from beneficial ownership database

Five years after ICIJ’s FinCEN Files investigation exposed the pivotal role the U.S. financial system plays in global dirty money flows, authorities are winding back landmark reforms pushed through

Read More
21 August 2025

UK: UK at ‘tipping point’ as millionaires consider moving abroad over wealth tax fears

Some 60 per cent of British millionaires believe they could have a better life abroad, a new survey has revealed. More than half of all the 1,000 wealthy respondents also said they are more likely to

Read More