Registration Time: 09:00

Sessions Time: 09:15 - 12:30 (with a 15 min break)
Speakers: Ms Markita Falzon, Mr Luke Aquilina

Venue:   Online Webinar

Participation Fees 
MIA Members: €110.00

Non-MIA Members: €215.00

Retired Members: €50.00

Students: €80.00

Session 1 - Arriving at the chargeable income 

BACKGROUND INFORMATION

This session will provide an overview of the fundamental principles of taxation in Malta, through which we will determine how companies registered in Malta are brought to tax in line with the Income Tax Act. We will look into the different components that play a part in determining the chargeable income of an entity which will be subject to tax in Malta.

Specific topics to be covered during the sessioN

• Basis of taxation for companies registered in Malta.
• The difference between income and capital
• Badges of trade linking to classification of active and passive income.       
• Overview of the exemptions and deductions applicable under Maltese law.

Session 2: Tax Accounts and the Tax Payment and Refund Mechanism

BACKGROUND INFORMATION

Malta operates a full imputation system of taxation whereby, upon a dividend distribution, the immediate shareholders receive a full credit of the tax paid on the distributable profits at the level of the distributing company. The full imputation system is accompanied by the tax refund mechanism, in respect of which following a distribution of profits in favour of the shareholders, the same they are entitled to claim a refund of the Malta tax which was paid at the level of the distributing company. The nature and source of the income should be taken into consideration to determine the amount of refund which the shareholder can claim. The tax refund system can reduce the effective tax rate from 35% to 5%.

Specific topics to be covered during the sessioN

• General overview of the Maltese tax refund mechanism and the full imputation system.
• Analysis of the different tax accounts linked to the specific tax refunds as provided for under the Income Tax Management Act.

Session 3: Fiscal Unity 

BACKGROUND INFORMATION

The Consolidated Group (Income Tax) Rules came into effect for financial periods starting on or after January 1, 2019. This session will explore both theoretical and practical aspects of these rules. The theoretical aspect of this course will focus on the details of subsidiary legislation and the guidance provided by tax authorities over the years. Furthermore, this session will delve into practical considerations, examining the challenges encountered when dealing with consolidated tax groups.

Specific topics to be covered during the sessioN

• Analysis of key definitions specified within the Subsidiary Legislation + Guidance issued by the Tax Authorities
• Practical implications in relation to registering and exiting a fiscal unit.
• Practical examples in relation to computing the effective tax rate of the company.
• Information with respect to the preparation of the consolidated income tax return

MIA Members should attend these sessions to grasp the basic principles of taxation for corporate entities established in Malta, with a specific focus on international entities which are entitled to claim tax refunds and also apply for fiscal consolidation.

Target Audience

WEBINARS TERMS AND CONDITIONS

Terms and conditions  apply

DISCLAIMER

By Registering and/or Booking for this event, you agree that MIA will collect your information which will be using it in accordance with its Privacy Notice available at the following link.

Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.