cONTINUE rEADING
On 17th May the Parliament introduced several changes to Income Tax Act. The amendment extended the participation exemption to permanent establishments. As a result, companies registered in Malta may enjoy exemption from income tax in respect of income or gains derived by them and attributable to their branches situated outside Malta, including the transfer thereof. The new wording satisfies EU requirements, outlined in several CJEU cases.
Above amendments come into force as from year of assessment 2013.
