Malta Simplifies VAT for Small Businesses in 2025
Malta has introduced a new regime for small enterprises, simplifying their VAT processes. The VAT (Amendment) Act, 2024, published in the Official Gazette, brings changes effective January 1, 2025.
The Act, known as Act No. XXXVIII/2024, adjusts acquisition threshold schedules for VAT purposes. It harmonizes Malta's VAT framework with EU Directive 2006/112/EC, aligning taxation and registration requirements.
The new legislation clarifies procedures for VAT cancellation and re-registration. It also specifies the start of a registered person's first tax period. The Act covers supplies within Malta, other EU member states, and transactions with non-Maltese persons.
The VAT (Amendment) Act, 2024, aims to ease the burden on small enterprises. It introduces changes to Malta's VAT framework, effective January 1, 2025, aligning with EU directives and simplifying processes.
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