Press Release from Ministry for Finance and Employment – Tax Deferral Scheme

Publication Date: May 12, 2022
 
The Ministry for Finance and Employment has released a Press Release in relation to the repayment of taxes that were eligible under the Tax Deferral Scheme. Link available at: https://www.gov.mt/en/Government/DOI/Press%20Releases/Pages/2022/05/11/pr220596.aspx

In brief, the Press Release stipulates that:

1. Payments will have to start being affected as from this June 2022 and end December 2024.

2. There will be a maximum of 30 equal payments for all this period. If a company/self employed wants to make any extra payment, that is acceptable but at least one monthly payment has to be made.

3.  If the applicant fails to make a payment, the contract will fall and interest will be charged as from the first day the applicant applied for the scheme.

4. During this period the applicants have to continue to pay any arrears and also the current tax.

5. CFR will be holding information sessions with stakeholders to explain this procedure