- Malta’s tax agency has issued guidance on the application of a 12-percent VAT rate on credit-related financial services.
- The rate applies to supplies where the tax becomes chargeable on or after January 1, 2024.
- The reduced rate does not affect exempt supplies listed in the Value-Added Tax Act.
- Credit management services and credit guarantees granted by the same entity remain exempt from VAT.
- The definition of “credit and credit guarantees” remains the same for VAT exemption purposes.
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Malta"
- Malta’s Phased B2B E-Invoicing Strategy Ahead of EU ViDA Mandate
- Malta Set to Launch Mandatory E-Invoicing and Real-Time VAT Reporting in Digital Tax Reform
- Malta’s 2025 ViDA Roadmap: Peppol e-Invoicing, Digital Reporting, and VAT Compliance Transformation
- When VAT Exemption Fails: Key Triggers for Tax on Aircraft Leasing and International Transport
- Malta Accelerates E-Invoicing and Real-Time VAT Reporting to Tackle High VAT Gap
