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BCMS Limited
'Coral'
243/1 Constitution Street
Mosta, MST 9052
MALTA

T: +356 2142-1111
M: +356 9947-5566
F: +356 2141-7118
E: rkg@bcmsltd.com

Provisional tax – April to August

Taxpayers in Malta are reminded that August is the deadline to pay the provisional tax (and social security where applicable) for the months April to August 2015.

Fines and penalties apply for late payment. If you would like to have more information on the matter or would like to have assistance please call us and […]

Does the 30th June Deadline to register for VAT in Malta apply to you?

Some taxable persons established in Malta but having a turnover of less than €7,000 per annum were required to deregister from VAT a few years ago.

New rules announced last year now require all such persons to re-register for VAT by 30th June 2015. Such taxable persons must be established in Malta and be providing […]

VAT Guidelines on for bad debt relief

The VAT Department has issued guidelines on how a taxpayer can claim VAT Relief on bad debts.

In summary the actual supplier registered under Article 10 of the VAT Act can claim VAT Relief on a supply for which he/she has not been paid provided various conditions have been satisfied.

These include amongst others:

The […]

How business leaders can unlock their potential

BCMS proudly announces that it will be supporting an event aimed at helping all business leaders unlock their potential.

The event, organised by Black Sheep Revolution, will be held on Thursday 26 March at 1845 at St. Julians.

All business leaders or prospective leaders will get the opportunity to network and will learn about ways […]

Micro Invest tax credits for micro businesses- expire 30 Mar 2015

Applications are open for micro businesses to apply for tax credits on investments or wages costs relating to a new job role.

The tax credits may be used against tax on income generated by the qualifying business activity.

The tax credit eligible amounts to 45% (or 65% for undertakings operating in Gozo) of eligible expenditure […]

Tax on property transfers (as from 1 Jan 2015)

With effect from 1 Jan 2015 the tax on capital gains made when selling immovable property situated in Malta will be replaced (save for a few exceptions) with a transaction tax on property transfers.

If you are not sure of how this will work or would like to familiarize yourself with how it will work […]

Principal Fiscal Measures for 2015 announced in Budget Speech

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 measures likely influence small businesses.

We have kept it short in line with our objectives of making it more readable for small business owner-managers who might not have had […]

Budget expected to feature further shift from direct to indirect taxation

Edward Scicluna Minister of Finance

The government has slightly lifted the lid on its Budget plans, saying in a draft sent to the European Commission that its fiscal measures include a further shift of direct taxation on labour towards indirect taxation, without further raising VAT.

It said its permanent discretionary revenue measures will include the International Investor Programme […]

Large caps lift MSE Share Index

Malta Stock Exchange

Gains across most of the large cap equities lifted the MSE Share Index 0.7 per cent higher to 3,357.495 points on increased equity market volumes totalling €219,190. The equity of Bank of Valletta plc extended its positive run with the fifth successive increase as its share price edged a further 0.4 per cent higher to […]

New Procedures for Work and Residence Permits

Employment & Training Corporation

The Employment and Training Corporation (ETC) and Identity Malta have announced the establishment of a one-stop-shop application service for the majority of Third-Country Nationals […]