The Commissioner for Revenue has published a notice, extending the deadline for the submission of the report containing Financial Account Information relating to Reporting Year 2019, to 30 June 2020. The deadline was formerly either 30 March or 30 April after year end, depending on the format of reporting adopted by the Malta Reporting Financial Institution and on whether the return will be a nil one. The extension is being made in the context of the current exceptional circumstances brought about by the COVID-19 pandemic. The Commissioner warns that it is within the responsibility of the Malta Reporting Financial Institution to submit the required information within ample time prior to the deadline to ensure a successful submission. Failure to submit the required information by the specified deadline will result in imposition of penalties in terms of the Cooperation with Other Jurisdictions on Tax Matters Regulations (S.L.123.127).

Should you have any queries or wish to discuss further, please send an email to covid@kpmg.com.mt.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.