Year of Assessment 2022 Tax Returns for Companies
Navigate Up
Sign In

Year of Assessment 2022 Tax Returns for Companies

Publication Date: May 31, 2022
 

The Commissioner for Revenue notifies that the year of assessment 2022 electronic corporate income tax return is now available on our online services. Although such return may be downloaded and filled in, the facility to upload and submit the return will be available from mid-June 2022 onwards. Further notification shall be made closer to such date. The supplemental document in case of a Fiscal Unit will be available for download on our online services in the coming weeks and further notification shall be made accordingly.

The Commissioner for Revenue would like to notify that prior to downloading the personalised corporate income tax return for any year of assessment, the ‘My Account’ section in the CfR portal needs to be completed with the contact details of the company officer, administrator or manager of the respective company, body corporate, foundation, trust, trading or commercial undertaking.

For this year of assessment there were the following salient changes to the tax return:

Index updated to reflect the addition of new attachments and removal of attachments that were no longer applicable.

TRA 15 – changes made to include deemed capital losses arising from exit taxation, in terms of Regulation 5 of the European Union Anti-Tax Avoidance Directives Implementation Regulations [SL.123.187]. Such changes will enable the set off of deemed capital losses arising from exit taxation against any other capital gains included in TRA 15. The data will feed in automatically from TRA 116 as per changes made.

TRA 53 – updates in terms of the Relief from Income Tax and from Duty on Documents and Transfers on Certain Property Transfers Rules [SL. 123.203] to include the rate of 0% for the first EUR 750,000.

TRA 82 – more rows were added to include details of employees and emoluments paid to persons not liable to tax in Malta. Additional rows will be made available upon request by sending an email to ictuforms.mfin@gov.mt.

TRA 96 – changes made to incorporate the increase of the maximum tax credit to EUR 750 in terms of Rule 5 of the Voluntary Occupational Pension Scheme Rules [SL. 123.175].

TRA 110 – changes made to include further information with respect to income derived from a participation holding in a body of persons resident for tax purposes in a jurisdiction listed in the EU List of Non-Cooperative Tax Jurisdictions.


Page 2
 of the Return – a new question [35] was added in connection with the applicability of any of sub-paragraphs (i) or (ii) of the proviso to article 4(1) of the Income Tax Act. Questions 35 and 36 were renumbered accordingly. Changes were also made so that there is no requirement to complete the information on the average number of employees and reporting of wages, salaries and directors’ remuneration under the FSS system when the tax return is being completed with respect to a fiscal unit. This information is now required on a standalone basis in page 7 of the supplementary document. 


Page 7
of the Return – changes to this page were made so that there is no requirement to complete information on directors’ remuneration when the tax return is being completed with respect to a fiscal unit. This information will be required only on a standalone basis in page 7 of the supplementary document.  


New Tax Return Attachments

TRA 122 – this caters for tax credits under the Business Development 2021 Regulations [S.L.463.38]. TRA 35 was updated to include this new TRA.

TRA 123 – this was introduced to cater for tax credits under the Investment Aid 2021 Regulations [S.L.463.40].  TRA35 was updated to include this new TRA.

TRA 124 – this was introduced to capture details on income or capital gains arising outside Malta were any of sub-paragraphs (i) or (ii) of the proviso of article 4(1) of the Income Tax Act are applicable.

TRA 125 – this was introduced to cater for the Group Deductions (Income Tax) Rules, 2022, which will be issued in due course. Such surrendering or claiming of allowable deductions shall be reflected automatically in page 4 of the Return as per changes made. Guidance on the application of this measure can be found here​.