Accounting & Auditing services in Malta | From US$ 499
Malta Accounting Services fees
From US$ 499
- Cooperation with competent authorities
- Institutions for the protection of clients
- Supporting your business in tax-filing and reduce the tax liability
- Having an effective tax planning
- Complying fully with local jurisdictions
Malta has been considered to be a favoured destination to many foreign investors. Malta also has an ideal location in the centre of the Mediterranean and strong industrial relations. Moreover, Malta also has a stable political situation and an open economy to direct foreign investments. Double tax treaties with over 50 countries provide competitive tax advantages and make the tax system in Malta attractive to investors
Malta offers a very attractive fiscal regime with advantageous corporate and gaming tax rates together with an extensive double taxation treaty network and other forms of relief from double taxation. The corporate licensee is subject to income tax in Malta at a flat rate of 35% on its profits.
However, shareholders (including a Maltese company) are entitled to a refund of tax equivalent to 6/7ths of the tax paid by the company upon receipt of a dividend. Therefore, effectively the tax suffered in Malta would be of 5% after tax refunds.
At ONE IBC, we support your business from accounting to tax filing at a reasonable price and without any hidden cost. Let us help you to "Build your business, grow your wealth in the most cost-effective way"
All companies incorporated in Malta, are required by the Maltese Companies Act, 1995 to maintain the accurate and up to date books of accounts, which should reflect the true and correct position of the companies’ affairs, its financial performance, and cash flows. These accounts should give sufficient and reliable clarification of their activities. The accounts should be carried out at least on an annual basis, with the first set of accounts covering not less than 6 months and not more than 18 months from the incorporation date of the company Malta.
- Preparing and managing on tax filing
- Ensuring accurate bookkeeping and preparing your financial reports that comply with Maltese statutory requirements
- VAT Returns, if the company is registered for VAT purposes in Malta
- Audited financial statements
- Tax Returns
VAT Returns Malta
Once a company commences its economic activities, it needs to become VAT Registered with the VAT Department within 30 days from the commencement of economic activities. Failing to become so registered will entail penalties.
A company that is registered under Article 10 of the VAT Act (VAT Registration applicable for trading companies), needs to file its VAT Returns on a quarterly basis. Penalties of €20 per month will apply for late filing of the Vat Returns. If there is any VAT to be paid, then interest calculated at 0.54% per month of the VAT amount will also apply.
A company that is registered under Article 12 of the VAT ACT (VAT Registration usually applicable for gaming companies and other companies providing Exempt without Credit Services) needs to submit notices/declarations whenever it receives any services from EU/outside EU or makes intra-community acquisitions of goods on which it must pay VAT in Malta. Moreover, on an annual basis, it also needs to submit an annual declaration of these services/intra-community acquisitions to the VAT Department.
Every company incorporated in Malta is also required to prepare and file an Income Tax Return with the International Tax Unit (ITU) / Inland Revenue Department (IRD). Companies which have a January-to-June accounting year-end are required to file their tax return by the 31st of March of the following year. Companies that have an accounting year-end other than a January- to-June year-end must file their income tax returns within 9 months after their accounting reference date.
Late Filing of Tax Returns
In the case of late filing of tax returns, penalties will be incurred as follows. Such penalties will vary and will be dependent on the number of months elapsed.
|No. of Months Elapsed ||Additional Tax |
|Within 6 months ||€ 50.00 |
|Later than 6 but within 12 months ||€ 200.00 |
|Later than 12 but within 18 months ||€ 400.00 |
|Later than 18 but within 24 months ||€ 600.00 |