Group Consolidation Rules – An Overview

The introduction of the Consolidated Group Rules in Malta is expected to bring a paradigm shift in the manner in which certain group of companies bring to charge their income and pay income taxes in Malta. This is because, on top of departing from the separate entity approach applicable to companies in Malta since the introduction of the Income Tax Act in 1948, the Consolidated Group Rules also combine with the refundable tax credit system in a manner in which the consolidated income of the group will now be subject to income tax at a rate equal to the effective tax rate in Malta on such income.

Throughout the webinar, we will be going through the salient aspects discussed above and other provisions contemplated therein, including the transitory provisions allowing for companies moving into and out of the Consolidated Group Rules – which provisions are likely to be of much relevance for those group of companies having a 31 December year end and which intend to move into the consolidated group regime with effect from the year of assessment 2020, and the various compliance obligations and anti-abuse rules put forward by the said rules.

Who Should Attend?

This session is relevant to group of companies and tax representatives of such groups which would like to obtain an overview of the relevant provisions, particularly those who intend to submit the election with effect from the year of assessment 2020, which election is due by 31 August 2020.

Session Outline

During our session, we will be discussing:

  • Traditional approach – Overview
  • Consolidated Group Rules – Introduction
  • Forming a Fiscal Unit
  • Assessing your income as a Fiscal Unit
  • Leaving a Fiscal Unit
  • Compliance Obligations
  • Anti-abuse measures

CPE Accreditation

2 hours of Structured CPE will be applied.

Registration

Send an email to events@mt.ey.com to confirm your attendance and payment. The cost for this session is €42 (excl. VAT).

Speakers

Dr. Robert Attard | Tax Leader Partner EY Malta

Robert is Partner and Tax Policy Leader, EY, Central & South East Europe, a tenured senior lecturer at the University of Malta and member of the European Association of Tax Law Professors. He has served as Visiting Professor at the University of Ferrara paying lecturing/speaking visits at Queen Mary (University of London), CTL (University of Cambridge), Salerno (with Wirtshaftsuniversitat Wien and Naples II) and the University of Palermo. The Maltese Court of Appeal has described him as a leading commentator on tax law referring to his publications in its judgements. Robert developed a detailed knowledge of tax aspects of the European Convention on Human Rights drafting submissions in transnational cases. He is a published author on tax law and has published with Hart Publishing (Oxford) and I.B.F.D. Robert's most recent tax publication is Principles of Maltese Income Tax Law 2019.

Silvio Camilleri | Manager EY Malta’s Business Tax Advisory

Silvio is an accountant by profession and joined EY Malta on a full-time basis in 2012. Initially, Silvio worked within the Business Tax Compliance department, wherein he has assisted both domestic and multinational corporate clients and individual clients in fulfilling their annual tax compliance obligations in Malta. After two years, Silvio moved on to the tax advisory arm of the firm and has since been advising clients on direct tax issues from both a domestic and an international perspective.

Giljan Aquilina | Business Tax Compliance Senior EY Malta. 

He joined EY Malta in 2013 as a summer intern working in the Audit and Advisory Departments. Later he joined the Business Tax Compliance Department as an assistant where he was later promoted to senior. Giljan has a Bachelor’s Degree in Commerce, majoring in Accounting and Banking. He later obtained a Master’s Degree in Accountancy from the University of Malta. He is also a member of the Malta Institute of Accountants. Giljan has worked on tax compliance engagements of both companies and individual clients. He has also been engaged on various advisory projects and has a keen interest in international affairs shaping the world of taxation.

Webcast

Webinar: Group Consolidation Rules – An Overview

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