FFF-Legal

7 July 2010

The Maltese Finance Ministry announced a new scheme aimed at encourage Maltese taxpayers to settle arrears of Maltese income tax and social security contributions. The new scheme is an extension to the amnesty available last year. Under the new scheme, taxpayers will have the option of settling arrears by paying a lump sum or by instalments over a maximum of 18 months.

The new amnesty applies to outstanding income tax for periods up to the year of assessment 2009 (basis year 2008) and for outstanding income tax on employment (Final Settlement System) and social security payments between 1998 and 2009.

Income tax 

Taxpayers who opt to settle their arrears in a lump sum by 31 October, 2010 will benefit from a reduction of 85% in interests and penalties while taxpayers who settle their arrease by instalment will benefit from a reduction of 75% in penalties.

Income tax on employment & Social Security contributions

Employers who pay outstanding tax under the FSS regime and social security contributions by 31 October, 2010 will benefit from a 90% reduction in penalties whereas those who opt to pay arrease by installments will be entitled to a reduction in penalties of 80%.

For further information please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .