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.