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[TAX] INCREASE IN INTEREST RATE ON UNPAID INCOME TAX AND VAT

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)

E: info@ffinternational.com.mt

T: +356 2010 7771 (office)

M: +356 9989 5679 (mobile)

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