| 22/8/2008 |
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| The International Taxation Directorate |
The International Tax Unit was set up in December 1993 and housed within the premises of the Malta Financial Services Authority with the objective of providing a one-stop shop service for operators in the financial services sector.
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| Responsibilities |
It is the Directorate's responsibility to manage all matters relating to international tax for the financial services sector and deal with companies based in Malta with a considerable foreign business Involvement.
More Specifically the functions of the Directorate include:- Taxation of International Business
The processing of tax returns relating to companies with considerable foreign business involvement such as international trading companies, companies operating the foreign income account and companies registered under the Malta Financial Services Act is carried out at the International Tax unit. Other types of companies dealt with at this Unit include collective investment schemes and insurance companies.
- Authorisation and Issue of Refunds to non-Resident Shareholders
Claims made by non-resident shareholders for the refund of tax paid by international trading companies or by other companies with regard to profits allocated to the foreign income account are processed at the International Tax Unit. Such tax is paid and refunded in the currency in which the company's shareholding is denominated. The legislation imposes a time limit of a minimum of 15 days and a maximum of 6 weeks from the date a valid claim is made, within which such refunds are to be issued.
- Notification of Advance Revenue Rulings
The Directorate is responsible for the notification of advance revenue rulings that have to be issued within 30 days from the date a valid application is received. The Income Tax Act specifies those instances where an advance revenue ruling may be sought.
- Legislation
The Directorate deals with all proposals made for legislative changes relating to taxation in connection with the financial services sector. It also advances its own proposals in this area. In many cases, legal drafting related to such proposals is done within the Directorate.
- International Matters
Work in this area involves:
- All administrative work in connection with existing double taxation agreements (including the exchange of information with foreign tax authorities)
- The preparation and actual negotiation of new double taxation agreements
- EU matters related to the acquis communitaire and the Code of Conduct
- OECD matters related to their initiative on harmful tax practices
- Other Work
The Directorate's work also includes:
- Issuing tax residence certificates, tax clearance certificates and the approving of accounting date changes with regard to companies dealt with at the International Tax Unit
- Assisting the Malta Financial Services Authority with all tax related problems and dealing with practitioners on various tax issues
- Dealing with other work which may be assigned to the Directorate by the Commissioner of Inland Revenue from time to time
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| Organisational Structure - International Taxation Unit |
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| Contact Information |
International Taxation Unit
Second Floor
MFSA
Attard, Malta | Vincent Callus
(Director) | 21441155
21441197 (fax) | vince.callus@gov.mt |
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