In recent years, the challenge posed by cross-border tax fraud and tax evasion has become a major focus of concern at a global level. Unreported and untaxed income reduces national tax revenues and therefore an increase in the efficiency and effectiveness of tax collection is necessary. The automatic exchange of financial account information constitutes an important tool in this regard.
In this regard, Malta has implemented a FATCA Model IA IGA as a stand-alone instrument here. The relevant general legislative framework implementing the instruments; transposing Council Directive 2014/107/EU (commonly known as ‘DAC2’) and uniformly incorporating the Common Reporting Standard (commonly known as ‘CRS’) as developed by the OECD may be found here.
Guidelines in relation to these instruments issued under the provisions of article 96(2) of the Income Tax Act are available here.
Forms and other documents requested in
connection with these instruments are available here below:
A guideline in relation to a change in the reporting deadline for
Reporting Year 2020 is available here.
The CRS and FATCA Entity
Classification Self Review Toolkit is available here. This
Toolkit is designed to assist Entities with their CRS and FATCA Registration
and Reporting obligations, based on the guidance set out by the MTCA on
Automatic Exchange of Financial Account Information.
Forms and other documents requested in connection with these instruments are available here below:
New Registration Form
Modification to Registration Form
Login to Reporting Portal
Bilateral CRS Competent Authority Agreements
FATCA Competent Authority Agreement