In November 2022 the Commissioner for Revenue issued a guidance note indicating the stock exchanges that are recognised for the purposes of the Income Tax Acts and the Duty on Documents and Transfers Act. The guidance note included the three main headings as follows:
- Stock Exchanges that are members of the World Federation of Stock Exchanges;
- The New York Stock Exchange; and
- Stock Exchanges that are included in the register of regulated markets within the European Economic Area maintained by the European Securities and Markets Authority (ESMA).
The recognised stock exchanges are to be taken into consideration only when the gain is of a capital, not a trading, nature under the Maltese laws referred to above. Each case is to be considered on its own merits and circumstances.
Should you require any further information in this respect please do not hesitate to contact the undersigned or your KPMG contact.