The avoidance of double taxation agreement between the Government of Malta and the Norwegian Government, signed on 30 March 2012, entered into force on 14 February 2013. The treaty generally applies from 1 January 2014 and replaces the Malta – Norway Income Tax Treaty signed in 1975.
Malta and the Principality of Liechtenstein have recently initialled a corresponding agreement in respect of taxes on income and on wealth after six months of negotiations. The bilateral double taxation agreement treaty largely follows the Organization for Economic Cooperation and Development’s Model Convention and governs the tax treatment of wealth structures and funds. It is...
The Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income between Malta and Israel has been ratified by both countries and the Convention’s provisions have now come into force. The Convention was signed on 28 July 2011.
Further to its signature in March 2011, the double taxation avoidance treaty with Uruguay came into force this week. The agreement with Uruguay is the first double tax treaty with any Latin American country. It seeks to create attractive conditions for Uruguayan and Maltese investors but, contains provisions intended to prevent tax avoidance through improper...
Malta and Mexico have, this week, signed a Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income. The purpose of the Convention is to remove the obstacles that double taxation presents to the development of economic relations between Malta and Mexico. The Convention provides for...
The Double Tax Treaty (DTA) between Malta and the Kingdom of Saudi Arabia, signed in January 2012, has been approved by the Council of Ministers of Saudi Arabia on 17 September 2012. The law that would ratify the DTA was approved by the Majlis al-Shura, the Kingdom’s lower house of parliament, in April 2012 and...
Malta has ratified the Council of Europe/OECD Convention on Mutual Administrative Assistance in Tax Matters. The Convention is a free-standing multilateral agreement designed to promote international co-operation for a better operation of national tax laws, while respecting the fundamental rights of taxpayers. The Convention provides for all possible forms of administrative co-operation between the parties in the...
Malta has announced the introduction of the Malta Retirement Programme, a new tax programme for retirees from EU/EEA/ Swiss nationals to take up residence in Malta. The applicable rate shall be a fixed rate of tax of 15% with a minimum tax liability of €7,500 onto which €500 must be added for a dependent. An...
On 25 July 2012, the Inland Revenue Department (Malta) published the Guidelines on the Malta tax treatment of Retirement Benefits arising from Retirement Funds or Schemes. The guidelines apply to any benefit derived from a QROPS (Qualifying Recognised Overseas Pension Schemes) in Malta. They apply from 1 January 2012 onwards and are intended to provide guidance...
Further to its signature in August 2011, the double taxation agreement between Switzerland and Malta entered into force on the same day as the diplomatic exchange of notes on 6 July 2012. The benefits of the Treaty are effective as from 1 January 2013. Aside from wide ranging provisions on the exchange of information between...
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