WH Partners (Malta): Coronavirus Update: Publication of Application Forms to Benefit from Fiscal Measures Announced

Further to the announcement made last week by the Prime Minister of Malta of the first set of economic measures aimed to support businesses in Malta impacted by COVID-19, the Commissioner for Revenue and Malta Enterprise have published application forms for the following measures:

  • Deferment of tax payments due in March and April, relating to provisional tax, employees tax, social security contributions and VAT; and
  • Cash grant for companies investing in new teleworking infrastructures.e.

Tax deferral scheme application

The tax deferral measure is primarily aimed at the tourism and hospitality, entertainment, transport and manufacturing sectors, however, any other sectors which can prove that are being affected by COVID-19 may also be eligible for this scheme.

Companies which have failed to comply with their tax obligations (submission of documents or returns and payment) falling due by 31 December 2019 will not be eligible to benefit from this deferral scheme.

Applicants will be allowed the possibility to pay the deferred tax (except for VAT), in four equal instalments between May and August, which tax would otherwise have been due in March and April. VAT, on the other hand, will be settled in two equal instalments in the following two quarterly returns. No interest or penalties will be charged in respect to taxes deferred under this scheme.

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