MALTA: COVID-19 VAT IMPLICATIONS

MALTA – Update 13rd May

Reduced VAT Rate on Protective Face Masks

L.N. 186 of 2020 has amended the Eighth Schedule to the VAT Act (Chapter 406 of the Laws of Malta), adding “protective face masks and visors, excluding diving equipment” to the list of products which are subject to VAT at a reduced rate of 5%.
This follows the announcement made last week by the Ministry for the Economy in connection with the Masks Subsidy Scheme.
 
Source Credit – Maintax

MALTA – Update 29th April

Clarification of VAT Deferment due to COVID-19

Malta published Legal Notice No. 147 in the Official Gazette, which contains the Deferment of Excise Duty payable during the Months of April and May 2020 Regulations 2020.

The deferment is being provided as a result of COVID-19 and includes that the duty on all excise goods and services payable on various dates during the month of April 2020 is declared to be payable sixty (60) days later, but not later than 28 June 2020, and the duty on all excise goods and services payable on various dates during the month of May 2020 is declared to be payable sixty (60) days later, but not later than 26 July 2020. Malta’s Commissioner for Revenue has also clarified the postponement of payment of VAT in response to COVID-19.

As previously reported, Malta postponed the payment of certain eligible taxes due in March and April 2020, including VAT, which is to be settled in two equal instalments in the two quarterly returns immediately following the quarter deferred. It has been clarified that for beneficiaries of this scheme not having quarterly periods, the VAT due in the period covered is to be paid in two equal instalments as follows: 

• for VAT due in March 2020, by 15 June 2020 and 15 September 2020; and
• for VAT due in April 2020, by 15 July 2020 and 15 October 2020.

Source Credit  – Orbitax

MALTA – Update 17th April

No updates from the Government yet.

Source Credit – Accordance VAT

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