As announced earlier by the Minister for Finance and Financial Services, the Commissioner for Revenue and Malta Enterprise* have announced the extension of the tax deferral scheme ‘for taxes owed up to and including June 2020’. The settlement period for the deferred taxes remains to be announced.

[Previously, eligible taxes (excluding Vat) were to be settled in four equal monthly instalments in the four month period between May and August 2020. VAT falling due in the period covered in terms of the scheme were to be settled in two equal instalments with the two quarterly returns immediately following the quarter whose dues would have been deferred. Taxpayers not having quarterly periods were to settle the VAT due in the period covered in two equal instalments as follows: (i) for VAT due in March 2020, by 15 June 2020 and 15 September 2020; (ii) for VAT due in April 2020, by 15 July 2020 and 15 October 2020.]

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

*8.7.2020 - removed from the Malta Enterprise website since date of publication

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