Deadline extended for the Consolidated Group (Income Tax) Rules application process

NEWS

17 Aug 2020

On 14th August 2020, the Commissioner for Revenue (CfR) extended the deadline for companies electing to form a fiscal unit according to the Consolidated Group (Income Tax) Rules introduced in Malta through the Legal Notice 110 of 2019.

The new deadline for the registration process of the fiscal unit for the year of assessment 2020 is 30 September 2020. Initially, the implementing guidelines for the Consolidated Rules established that the application had to be submitted by 31 August 2020. 

The Consolidated Group (Income Tax) Rules were first introduced in Malta in 2019 and allow companies that are part of the same group to be treated as a ‘fiscal unit’ for income tax reporting purposes. Companies which are located outside of Malta may also form part of the Consolidated Group Rules, upon certain conditions being satisfied.

Information on key benefits and requirements to access this regime can be found here

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Should you require further information or assistance in respect to the application process please do not hesitate to reach out to your usual WH Partners contact or email us at tax@whpartners.eu.