Year of Assessment 2020 Tax Returns for Fiscal Units
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Year of Assessment 2020 Tax Returns for Fiscal Units

Publication Date: Dec 18, 2020
 

​The Commissioner for Revenue notifies that the income tax return and the supplemental document for Year of Assessment 2020 required to be filed by a principal taxpayer in respect of a fiscal unit are now available for download. Although such returns may be downloaded and filled in, the facility to upload and submit them will be available from 1 February 2021 onwards, unless otherwise notified. Further notification shall be made closer to such date.

The files available for download now include a supplemental document which forms an integral part of, and is to accompany the submission of the consolidated income tax return of the fiscal unit. The supplemental document requires the completion of standalone data pertaining to the individual members of the fiscal unit. Standalone data is required with respect to the Balance Sheet and Income Statement, page 6, page 7 and TRA82. The supplemental document includes also a ‘Rule_13’ sheet which is required to be filled in where there is a taxable deemed advance to the shareholder(s) of the fiscal unit in terms of Rule 13 of the Consolidated Group (Income Tax) Rules. For the avoidance of doubt, standalone data is not required to be completed for any non-resident entity forming part of the fiscal unit, unless such entity derives any income which is liable to tax in Malta.