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Interest Deduction Limitation Rules

These interest deduction limitation rules applicable in Malta are concerned with limiting the extent to which borrowing costs, including but not limited to interest payable, may be deducted for tax purposes from interest revenues and other economically equivalent taxable revenues.

EU Taxation & Compliance Bulletin 58

BEPS: OECD Publishes Responses to Country by Country Reporting Consultation:
The OECD has now published comments received in relation to a consultation document published in February inviting input concerning Action 13 of the Base Erosion and Profit Shifting Project, on Country-by-Country Reporting.

EU Tax & Compliance Bulletin 57

The Executive Vice-President of the European Commission Margrethe Vestager said the European Commission is strongly supportive of actions taken by some EU Member states to impose unilateral digital services tax in absence of a collective action.

Malta – Exit Taxation

Corporate exit taxation is a tax on companies that redomicile to another country or transfer assets to another jurisdiction. This is a tax that is triggered by assets moving from the tax net of one country to the tax net of another country in the absence of a transfer to a third party.

Controlled Foreign Company (CFC) Rules

Broadly speaking a controlled foreign company (CFC) is a corporate entity that is registered and conducts business in a different jurisdiction or country than that where the controlling parent company or owners are resident. CFC regulations are anti-tax avoidance measures.

EU Taxation & Compliance Bulletin 56

EU to impose tax rules on Member States:- Speaking at an event in Brussels, the Director for Direct Taxation and Tax Coordination in the EU, Benjamin Angel, indicated that the Commission is considering using its powers to bypass the unanimity requirement to decision making in taxation.

European Tax & Compliance Bulletin 55

UK Enters Transitional Period with the EU:-
The United Kingdom’s Withdrawal Agreement, which formalises the UK’s exit from the EU, entered into force at midnight Central European Time on 31 January 2020. EU law will continue to apply in the UK at least until the end of the transition period – 31 December 2020.

Malta – Anti Tax-Avoidance Provisions

The anti tax-avoidance provisions in Malta are broadly written. They include schemes or arrangements that reduce, postpone or obtain a tax advantage or refund or offset, should such schemes or arrangements be fictitious, artificial or non-genuine or are not put in place for valid commercial reasons or…..

Malta Imports €4.8 billion from EU

Malta imports from the European Union in 2019 were valued at €4,821.5 million, according to official data. The National Statistics Office recorded a drop of €312.8 million in the value of imports from euro area countries when compared to 2018. The value of imports from the United Kingdom were up €840.2 million while goods purchased […]

EU Tax & Compliance Bulletin 54

EU: Member States could be candidates for blacklisting as non-cooperative jurisdictions from March 2020 according to a proposal by the Danish government supported by Germany, France, Spain, Austria and others.

DM Europe TAG Alliances Ranked 3rd Globally

DM Europe’s international alliance of independent accounting and professional services firms, TAG Alliances®, has been recognized by Accountancy Age as one of the top three accounting alliances in the world. This is the eighth consecutive year that TAG Alliances has been ranked in this elite position.

Tax & Compliance Bulletin 53

EU: Tax Policy Key to New European Green Deal:
The President of the European Commission Ursula von der Leyen presented her ambitious climate-change related policy proposal ‘New Green Deal’, under which every aspect of the EU economy will be re-evaluated to address the shortcomings of the European framework, which are compounded by the climate emergency. The European leaders endorsed the policy goal of making Europe a climate-neutral by 2050, with a dissenting opinion from Poland could not commit to this goal, as a result of which the EU leaders will re-evaluate the matter in June 2020.

Bulletin 52

OECD – As a follow-up of BEPS Action 13, the OECD /G20 Inclusive Framework on BEPS has released updated guidance on the implementation and operation of Country-by-Country Reporting (CbCR). The new guidance includes the treatment of dividends, the operation of local filing…