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  • Budget Implementation Act 2019

Malta Budget Implementation Act 2019

27 March 2019


On the 22nd March, Act VII of 2019, the Budget Implementation Act, 2019 was enacted into law.

Below is a summary of the Budget Implementation Act enacted last Friday:

  • Introduction of a new option for transfers of immovable property acquired causa mortis;
  • Amendment to the anti-abuse provisions surrounding the application of the participation exemption on the transfers in a Maltese participating holding;
  • Extension of the exemption from tax on income derived by companies from long term contracts of insurance that are treated as qualifying personal retirement schemes or qualifying occupational retirement schemes;
  • Increase in the tax deduction for private school fees;
  • Amendments to the tax authorities’ income tax and VAT collection rights, mechanisms and timings combined with additional restrictions to the payment of tax refunds in case of defaults under other tax legislation; and
  • Changes to the Commissioner for Revenue’s rights to remit penalties and interest; and
  • Changes to the Prevention of Money Laundering Act of the Laws of Malta.


If you would like to learn more about the Budget Implementation Act, Download the detailed Report.