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FAQs - General Questions

1. My tax statement includes income from Bank Interest when I had asked my Bank to deduct 15% Final Withholding Tax from my deposit account. What can I do to correct this error?
 
You should first verify if the Bank interest charged actually belongs to you. If this is so, then contact your Bank so that in future the interest will not be reported to the Office of the Commissioner for Revenue. There is no corrective action to be done on the Tax Statement which you received.
 
If the interest does not belong to you, ask your Bank to write to the Office of the Commissioner for Revenue correcting the error. You should then fill in an Adjustment Form (AF 1) to correct the Tax Statement.
 
2. If I enter into an agreement with the Office of the Commissioner for Revenue to pay an amount due for basis year 2000 in instalments, am I charged interest on the balance unpaid after the due date?
 
Yes. All balances due as from basis year 1998 remain subject to a 0.54% interest per month or part thereof even if covered by an instalment agreement.
 
3 .I have become a widow but only received an Income Tax Return under the name of my late husband. What can I do to receive one in my name?
 
You can either phone, write or call personally at our Customer Help Section and give the necessary details namely:

◦Identity Card Number
◦Name and address (as per ID card)
◦Husband's date of death
◦Husband's Identiy Card Number (or Tax number if foreigner)
 
You will then receive an Income Tax Return which should be filled in with all details of income earned by you after your husband`s death. Income earned by you or by your late husband before his death are to be included in your husband`s Income Tax Return. Both returns should be signed and together with any relative documents (if any), should be mailed to the Office of the Commissioner for Revenue in Floriana.

4. I am employed and have a part-time self-employment. Am I entitled to the special tax rate of 15% on the profit derived out of the part-time job?
 
Employed taxpayers who also have income from part-time work as a self-employed can opt to fill in form TA22 and pay a tax of 15% on the Net Profit from the part-time job. The maximum amount of profit which can be subjected to this rate is €12,000. Any amount in excess of this will have to be declared in the Income Tax Return and will be taxed in the normal standard rates. The income shown in form TA22 is not to be included by the taxpayer in his annual Income Tax Return unless he wishes to claim back the tax so paid.

5 .I am a self-employed taxpayer and my income for this year has decreased. Am I allowed to reduce the Provisional Tax due for the current year?
 
Yes, you can reduce the amount of provisional tax due for the current year by filling a PT reduction form which can be obtained from the Office of the Commissioner for Revenue. The PT demand will be adjusted and based on your declaration. However, if the Tax Statement for the year in question results in Provisional Tax not paid in full, the amount underpaid is subjected to a 1% interest per month or part thereof.