Topic – Page 29 – Legal knowledge portal

Fiscal Representatives (Financial Services Undertakings Exercising a European Right) (Revocation) Regulations 2016 – L.N. 3 of 2016

February 2, 2016

The Fiscal Representatives (Financial Services Undertakings Exercising a European Right) Regulations issued during year 2004 state that any European credit institution, European insurance undertaking or European investment firm which seeks to provide services in Malta without being resident in Malta and without having a place of business in Malta, shall ... Read More »

Claim for Deduction of School Transport Fees

February 1, 2016

Parents of children who are under 16 years of age and who attend a church school or private school are allowed for a deduction against their income in relation to school transport fees paid. Such deduction is available as from 1st January 2015 and is limited to a maximum of ... Read More »

Expenses allowable for tax deduction purposes will highly depend on presentation of valid VAT invoices.

January 29, 2016

The 2016 Budget Measures Bill proposes that from year of assessment 2017, all expenses will be considered allowable for tax deduction, only if the invoice/fiscal receipt presented is valid for VAT purposes. Should the new provision be enacted, it will consequently amend Article 14 of the Income Tax Act-“Deductions”, whereby ... Read More »

General Accounting Principles for Small and Medium-Sized Entities (GAPSME)

January 28, 2016

The E.U. Single Accounting Directive 2013/34/EU has brought about a new set of financial requirements which repeal the 4th and 7th Accounting Derivatives on individual and consolidated accounts. The aim for this new change is to simplify the preparation of the statutory financial statements for those small and medium entities ... Read More »

Employees’ behaviour in the work place

January 27, 2016

Certain ambiguous behaviour such as over-familiarization between employees may result in serious problems for both the employees and employers. This was stated by Magistrate Hon. Dr. Joseph Mifsud on the 11th January 2016 in a criminal case decision (Police vs Owen Calleja) wherein an employee was accused of sexual assault ... Read More »

Pre-contractual liability in the Czech civil law – Misuse and disclosure of confidential information

January 26, 2016

The topic of this article follows up to our previous articles dedicated to pre-contractual liability as a novelty of the Czech legal system introduced by the New Civil Code (Act No. 89/2012 Coll., the “NCC”) and is focused on the fourth and last merit of pre-contractual liability. This merit of ... Read More »

Information return on assets and rights held abroad for residents in Spain to be fulfilled by 31th march

January 25, 2016

Those who are tax resident in Spain (both local Spanish residents and expats resident in Spain) are legally obliged to provide information to the Spanish tax authorities regarding any offshore accounts, offshore investments, and real estate located abroad. Although this declaration of assets and right abroad is solely informative and ... Read More »

Pre-contractual liability in the Czech civil law – Non-conclusion of contract so far in contractual negotiations when its finalization is deemed to be very likely

January 22, 2016

The topic of this article is devoted to third merit of pre-contractual liability lying in non-conclusion of contract so far in contractual negotiations when its finalization is deemed to be very likely. This merit is defined in Section 1729 (1) of the NCC (Act No. 89/2012 Coll., the New Civil ... Read More »

Double Taxation Relief (Taxes on Income) (The Kingdom of the Netherlands, in respect of Curacao) Order, 2016

January 21, 2016

The double tax treaty between Malta and Curacao has been signed but is not yet in force. The treaty has been modelled based on the OECD model convention. Taxes covered include income tax levied in Malta and income tax, salaries tax, profit tax, dividend tax levied in Curacao. Read More »

Pre-contractual liability in the Czech civil law – Breach of information duty

January 20, 2016

As we have written before, so called pre-contractual liability is one of new institutes of the contract law and execution of contracts under the new Czech civil law as introduced by the New Civil Code (Act No. 89/2012 Coll., the “NCC”), effective as of 1st January 2014. This article follows ... Read More »

Donations (Community Chest Fund) (Amendment) Rules, 2016 (L.N. 2 of 2016)

January 19, 2016

Tax deductions relating to donations made to the Malta Community Chest Fund are regulated by Subsidiary Legislation 123.162, ‘Donations (Community Chest Fund) Rules’. The rules currently refer to donations made between 1st January and 31st December 2014 but will now be amended to apply for donations made between 1st January ... Read More »

Pre-contractual liability in the Czech civil law – Initiation of, or proceedings with, contractual negotiation without the will to finalize the contract

January 18, 2016

As we have already written in our previous article “Pre-contractual liability – New rules for contractual negotiations in the Czech civil law”, the institute of so called pre-contractual liability is one of the new institutes of the contract law and execution of contracts under the new Czech civil law as ... Read More »

Exemption on Royalties Derived from Patents (Amendment) Rules, 2016 (L.N. 4 of 2016)

January 15, 2016

Article 12(1)(v) of the Income Tax Act provides for a tax exemption in relation to income received from royalties, advances and similar income derived from patents in respect of inventions, copyright and trademarks as may be prescribed. This exemption was only being applicable for income received from royalties derived from ... Read More »

Pre-contractual liability – New rules for contractual negotiations in the Czech civil law

January 14, 2016

The topic of this article is devoted to so called pre-contractual liability – one of the new institutes of the contract law and execution of contracts under the new Czech civil law as introduced by the New Civil Code (Act No. 89/2012 Coll., the “NCC”), effective as of 1st January ... Read More »

Local Drone Regulations and Possible Federal Preemption

January 11, 2016

As we have written before, State and local agencies are not waiting for the federal government to address issues of local concern regarding consumer and recreational drone use. For instance, the Golden Gate Bridge, Highway and Transportation District today posted a notice prohibiting operation of drones near the Golden Gate ... Read More »

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