Deadline for the registration of a fiscal unit extended

Deloitte Malta tax alert

27 August 2020

On 14 August 2020, the Commissioner for Revenue (the ‘CfR’) notified taxpayers that the deadline for the application to register a fiscal unit for the year of assessment 2020 shall be extended from 31 August 2020 to 30 September 2020.

In addition, the tax payment deadline of 18 months following the end of the accounting period applicable to companies in possession of a determination under the relevant paragraphs of article 47 of the Duty on Documents and Transfers Act, shall, for the year of assessment 2020, also apply with respect to tax payable by a fiscal unit on the unit’s chargeable income, provided that all members of the fiscal unit are either in possession of such determination or are non-resident companies not liable to tax in Malta.

With respect to fiscal units not entitled to the aforementioned 18 month extension, the deadline for the payment of settlement tax with respect of the year of assessment 2020 is being extended by two months from 30 September 2020 until 30 November 2020.

For the avoidance of doubt, tax payable on chargeable income allocated to the foreign income account of the principal taxpayer shall in any case become due within 18 months after the end of the accounting period.

This announcement follows the CfR’s publication of procedural guidelines that clarified the procedure for registering a fiscal unit.  

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