The Malta Tax and Customs Administration is setting up a Large Taxpayer Office, which – as its name suggests – is aimed at those entities, whether companies or individuals, which meet an established list of criteria.
The LTO is comprised of a dedicated technical team, who are qualified to deal with the complex requirements of eligible entities and individuals. The team will act as relationship managers who can deal with the wide range of issues these encounter – whether legal, technical, operational or cross-jurisdictional.
The eligibility threshold for entities covers a range of metrics, from turnover and number of employees to VAT contributions, while those for individuals cover things like declared income, shareholding in companies with a certain amount of total asset value, total value of acquisition and sales in property during a calendar year.
The over-arching intention of the LTO is to improve compliance, in line with the MTCA’s strategy, by assisting its clients to navigate the various requirements and to identify any potential challenges before they occur.
Eligible entities and individuals are being notified directly that they meet the current criteria, which are to be regularly reviewed to ensure that they reflect economic development.
The LTO arrangements come into force in the coming weeks..
