VAT Updates 2024 - 2025

Session Outline

Keeping up with of local and EU VAT updates is essential for the correct application and implementation of the applicable VAT treatment in a timely and proper manner.  This is also useful for the proper fulfilment of the various compliance obligations, whilst avoiding penalties and interest which may be imposed in case of non-proper/timely compliance. It also serves for identifying any needs to update/change any VAT related policies and procedures.

This session will discuss recent and upcoming changes to the VAT and related legislation, including background information and explanation of other provisions which are connected to the said changes for a better understanding of the implications. The session will also cover an overview of EU VAT Developments. Participants will be encouraged to raise any queries they might have in connection with the implementation of the said changes and the respective VAT implications.

Topics on the Agenda include:

• 1 January 2025 VAT updates including:
  • The transposition of the provisions of Council Directive (EU) 2020/285 (SME Directive) relating to the Article 11 VAT Registration (Small undertakings/enterprises) and how this type of registration will be changing with effect from 2025 including the introduction of the new sub articles 11A ("Special scheme for small enterprises for supplies made within other Member States) and 11 B (Special scheme for small enterprises for persons not established in Malta).
  • The implementation of Regulation (EU) No 904/2010 as regards the administrative cooperation and exchange of information for the purpose of monitoring the correct application of the special scheme for small enterprises.
  • The transposition of the provisions of Council Directive (EU) 2022/542 of 5 April 2022 (the Reduced VAT Rates Directive) relating to the VAT treatment of interactive/live-streamed virtual events
  • The implementation of the Budget measure relating to the VAT exemption on sanitary Items
  • Other amendments to various other sections to the Maltese VAT Act including; Article 2 (Definitions), Article 4 (Scope of VAT), Articles 10, 12 and 13 (VAT Registrations), Article 17 (Tax periods) and various Schedules to the Maltese VAT Act
• CESOP - Central Electronic System of Payment information
• 12% Reduced VAT Rates
• Budget Implementation Act – Act 13 of 2024
• LN 14 of 2024 - VAT on devices and aids for the disabled
• Guidelines on VAT Exemption on other scheduled sea transport of passengers
• Updated Guidelines Healthcare services
• LN 228 of 2024 - New VAT Exempt psychotherapy and counselling professions & Dental prostheses
• VAT in the Digital Age – VIDA Package

Who Should Attend?

Accounting, Taxation, Clerical Staff/Accounting Professionals & Students, Sole Proprietors/ Business Owners.

Registration fee

• Regular fee: €75

Date

This on-line session will be held on the 25th of March between 9:00am and 12:15pm (with 15 minutes break).