The effect of this amendment has resulted in such ITCs becoming subject to the VAT legislation of Malta, i.e. they can be charged VAT on products and services provided to them and at the same time they have to charge VAT on services rendered to other ITCs.

Since such VAT suffered is considered as being related to the company’s businesses, such companies also have a right to claim full set off against OUTPUT tax or, if this is not enough, they can claim refund of any balance not covered by their OUTPUT tax.

Further information on this subject can be found in our article Value Added Tax as Applicable to International Trading Companies

1. What are the tax implications of investing company funds from my ITC? Are any capital gains eligible for the ITC tax rebate I normally receive on dividends from the company? Would I be better off decl
2. Personal Tax Computation
3. What are the personal tax implications of settling in Malta?
4. When can I be exempt from property tax in Malta?
5. I have received a blue form called Tax Declaration Form. Shall I send it to the Inland Revenue Department?
6. I have received the PT1 claim form to pay provisional tax for December, but profits are very low this year. Can we object to the amount claim?