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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

Important Notice- PT1 forms due by 30th April 2020

We feel compelled to bring to your attention something which was not notified to tax payers nor tax practitioners.

The statutory form PT1 is that through which companies and self employed persons pay provisional tax and Social security contributions. It was the practice for the Revenue to mail these forms by early April of each year. The deadline for their submission is 30 April. It was also general practice for the Commissioner for Revenue (CFR) to issue advertisements to remind taxpayers to submit and pay these before the deadline of 30 April.

As at the time this notice is being published we are aware of no taxpayer or company which has received it this year. Nonetheless the CFR are giving conflicting information. It is reported that The CommissionerĀ  has himself confirmed that the PT1 forms were being mailed a couple of weeks ago (in a public webinar). Taxpayer service are now giving conflicting statements that tehy are not being sent because mail is unreliable or that taxpayers are being expected to pay these online with immediate effect.

We are hereby reminding you that, (inspite of the fact that you usually receive the blue form by way of reminder), then this year you will/might not be receiving it. If you do not usually pay provisional tax every trimester then this notification should not be relevant for your company, however if in doubt please do get in touch.

If you would like to pay it on time please get in touch with us and we will prepare the statutory form for you which you can pay before 30 April. If we have been appointed as your tax practitioners, we would also be able to provide you with the uniquely generated payment reference number such that you can use it to accompany payment which can be affected from the following portal:

https://taxation.gov.mt/taxation.web/Payments/

In the case of taxpayers where we are not appointed as tax practitioners we recommend that you call 153 and ask for this information to be sent to you either via email or in the mail (keeping in mind that at the moment the mail is rather unreliable acc. to CFR’s customer care).

Please do bear in mind, that unless an application for deferral of provisional tax payment has been made, then the deadline for payment of provisional tax remains the 30th of April. Late payment will of course result in additional tax payable, hence we encourage you to ensure that payment is made within the prescribed timeframe.

Should you be of the belief that the Company/self employed person will not be incurring a tax bill for 2020 that is as large as the provisional tax being requested, then we can assist you with the submission of a Provisional Tax Reduction form. Please do reach out to us and we can discuss the applicability thereof accordingly.

In the meantime stay safe!!