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Introduction on Family BusinessTransfer of Ownership Incentive The purpose of the incentive is to assist and facilitate family businesses to transfer their business from one generation to the next by providing benefits including governance and fiscal benefits for the better management and organisation within the family and the business. Duration of the incentive This […]
By virtue of LN 131 of 2017 a special reduced rate of stamp duty shall apply on donations of shares in a company as well as commercial property subject to certain conditions. The standard rate of stamp duty in such cases is 2% on the value of the shares or 5% if the company […] 
Eligible companies may apply for Micro Invest Tax Credits on investments made during 2016 until 31 May 2017 at 1600hrs. These tax credits are aimed at micro businesses. Related or “linked” enterprises with common shareholders or voting rights are therefore seen as a “single undertaking” for the purposes of eligibility. For avoidance of doubt this […] 
The post below is not meant to be a comprehensive summary of the budget measures but rather a highlight of what we think are the main fiscal measures likely to influence sole traders and small businesses. We have kept it short in line with our objectives of making it more readable for small business […] The referendum on Brexit has been a severe blow to European unity. This development will have a far-reaching negative impact on both Britain and the rest of Europe. Although, for once, the British had the opportunity to vote in a clear manner, where every vote counted, almost 30 per cent did not vote on such […] 
All personal taxpayers in receipt of any income (falling outside the Final Settlement System FSS) during the calendar year 2015 will need to submit their tax returns and pay the underlying tax due by not later than 30 June 2016. The same deadline also applies to taking advantage of the 15% tax on any […] 
If you had rental income on residential dwellings during 2015 it might be advantageous for you to pay tax at 15% on the gross rental income rather than at the marginal tax rates that would normally apply on your annual tax return. For this purpose residential dwellings are defined as non commercial tenements consisting of […]
The deadline for the application for Micro Invest Tax Credits on investments made during 2015 must be submitted by 30 March 2016. These tax credits are aimed at micro businesses. Related or “linked” enterprises with common shareholders or voting rights are therefore seen as a “single undertaking” for the purposes of eligibility. For avoidance of […] 
Cost of living An increase in the cost of living of €1.75 per week (€91 per annum) Income Tax (General) Widening of tax bands so that no tax is payable where one’s wage or pension does not exceed minimum wage (plus government bonus). Income Tax (Sports) A reduced 7.5% tax previously applicable to football […] 
Employers’ attention is drawn to the maternity contribution that has come into force on 6 July 2015. By virtue of this new legislation introduced by means of Legal Notice 257 of 2015 (Trust and Trustees Act CAP. 331) and Legal Notice 258 of 2015 (Social Security Act CAP. 318), employers must make additional contributions […] |
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