By virtue of Legal Notice 228 of 2022, interest on unpaid income tax has increased to 0.6% per month. The new rate applies as from the 01st of September 2022. This implies that the annual interest rate on unpaid tax has been increased to 7.2%.
Similarly, in case of unpaid VAT, Legal Notice 227 of 2022 has increased the interest rate on unpaid VAT to 0.6% per month, implying an interest rate of 7.2% per annum.
For further information, please contact:
Franco Falzon C.P.A. LL.M (Managing Director)
T: +356 2010 7771 (office)
M: +356 9989 5679 (mobile)
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