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Malta VAT 2014 changes approved

  • VAT
  • 17 December 2013 | Richard Asquith

Malta VAT 2014 changes approved

The Maltese budget for 2014 has been approved by Parliament.  It includes a small number of changes to the VAT penalties and compliance regime, including:

  • There will be no penalties for late filings of returns without the matching payment – although late penalty interest may still be due for the missing payment.
  • Payments made by VAT registered businesses who are under investigation will no longer be automatically allocated against the disputed tax
  • Payments made with VAT returns will not be first matched to any previous outstanding balances.

Maltese VAT returns are generally filed monthly or quarterly, depending on the volume of transactions going through the business.  There are some situations where an annual return is all that is required.  The returns are due 45 days from the end of the reporting period.  Penalties start from a minimum of €250, and include a 0.75% fine of the overdue VAT per month.  The current VAT rate in Malta is 18%.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.