Once registered for Maltese VAT, you will have to start following the local rules in a number of aspects. This includes:
Whilst Malta follows the EU rules on VAT compliance, it is still free to set its own standard (upper) VAT rate. The only proviso is that it is above 15%. Suppliers of goods or services VAT registered in Maltese must charge the appropriate VAT rate, and collect the tax for onward payment to the Maltese tax authorities through a VAT filling.
The current rates are:
The tax point, or time of supply rules in Malta determine when the VAT is due.
The VAT on a supply which takes place in Malta will be chargeable on the earlier of the following dates:
Where a tax invoice is issued within 30 days of the date as determined above, the tax becomes chargeable on the invoice date.
The VAT on intra-Community supplies becomes chargeable on the earlier of the dates below:
Where an intra-Community acquisition of goods has taken place, the chargeable event for intra-Community acquisition of goods is deemed to occur on the date which would be the date of the chargeable event had those goods been supplied in the member state where the acquisition is made.
This guide covers the essential steps ecommerce sellers need to take now that the UK has left the EU Customs Union and VAT regime to keep their cross-border sales going, avoid extra tax costs and frustrated customers.
Read the report to learn about key industry trends, emerging issues, and challenges faced by cross-border sellers and shippers.
Manage international tax with cross-border solutions for VAT, HS code classification, trade restrictions, and more.