The Inland Revenue Department is pleased to announce that as from April 2005, taxpayers including Companies may pay Income Tax and Social Security Contribution (Class2) payments using Internet Banking service of HSBC Malta p.l.c. and the BOV 24X7 Services of Bank of Valletta p.l.c.

To effect payment, all you have to do is key in the 'Payment Reference' that has been printed on the tax bill or statement (for example Form PT 1 for the payment of Provisional Tax and Social Security Contributions) into the appropriate field of the Internet Banking and 24 X 7Services in line with the specific instructions of your respective bank.

Individual Taxpayers may effect payments using Internet Banking for Provisional Tax, Social Security Contributions (Class2), Self Assessment and Tax Arrears. Internet Banking is more appropriate for large value transactions where standard limits on cards will be exceeded.

The Department recommends the use of its own on-line payments page for payments within your standard card limits, where you will be acknowledged immediately of the payment effected.

Companies may effect payments using HSBC Malta p.l.c. Internet banking service and BOV 24X7 facilities (Bank of Valletta p.l.c.) for Provisional Tax and Tax arrears as indicated on issued claims.

FSS payments (Form FS5) will be added at a later date.

The Inland Revenue encourages you to use on line payment services such that you do not need to call at the department and queue at the Cash Office or write and mail a cheque with the risk that if the payment does not arrive on time you incur the additional taxes contemplated by the Income Tax Management Act.

HSBC Malta p.l.c.: www.hsbc.com.mt

Bank of Valletta p.l.c.: www.bov.com