{"id":2475,"date":"2022-05-23T17:28:04","date_gmt":"2022-05-23T15:28:04","guid":{"rendered":"https:\/\/www.ecovis.com\/malta\/?p=2475"},"modified":"2022-05-23T17:29:43","modified_gmt":"2022-05-23T15:29:43","slug":"covid-19-tax-deferral-scheme","status":"publish","type":"post","link":"https:\/\/www.ecovis.com\/malta\/covid-19-tax-deferral-scheme\/","title":{"rendered":"COVID-19 Tax Deferral Scheme"},"content":{"rendered":"<p><strong>Companies to Settle Payment by December 2024<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">On 11 May 2022, the Ministry for Finance and Employment (MFE) issued a press release setting the timing for the payment of taxes initially deferred under the COVID-19 Tax Deferral Scheme.\u00a0 The Scheme, launched in March 2020, was intended to assist companies and businesses facing financial difficulties during the global pandemic.\u00a0 The scheme was extended until December 2021.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The MFE has granted beneficiaries under this scheme a maximum of 30 months, up until the end of December 2024, to repay their taxes deferred under the COVID-19 Tax Deferral Scheme.\u00a0 Furthermore, beneficiaries must affect monthly payments commencing from June 2022.\u00a0 No interest on deferred taxes will be incurred during this period.\u00a0 However, the MFE emphasized that in the event that repayments are not settled by the December deadline, benefits under the Tax Deferral Scheme will be forfeited and interest will be incurred as though the Scheme had not applied.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, in the absence of specific repayment agreements with the Office of the Commissioner for Revenue, companies are also expected to settle other pending tax dues not covered by the Tax Deferral Scheme by the end of December 2024.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Contact Ecovis Malta on <a href=\"mailto:malta@ecovis.com\">malta@ecovis.com<\/a> for assistance on fulfilling your tax obligations and the repayment process under the Tax Deferral Scheme. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Companies to Settle Payment by December 2024 On 11 May 2022, the Ministry for Finance and Employment (MFE) issued a press release setting the timing for the payment of taxes initially deferred under the COVID-19 Tax Deferral Scheme.\u00a0 The Scheme, launched in March 2020, was intended to assist companies and businesses facing financial difficulties during [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":2476,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32],"tags":[],"class_list":["post-2475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-malta-news"],"acf":[],"featured_image_url":"https:\/\/www.ecovis.com\/malta\/wp-content\/uploads\/2022\/05\/ray-300x150.jpg","featured_image_url_large":"https:\/\/www.ecovis.com\/malta\/wp-content\/uploads\/2022\/05\/ray-1280x550.jpg","_links":{"self":[{"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/posts\/2475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/comments?post=2475"}],"version-history":[{"count":2,"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/posts\/2475\/revisions"}],"predecessor-version":[{"id":2479,"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/posts\/2475\/revisions\/2479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/media\/2476"}],"wp:attachment":[{"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/media?parent=2475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/categories?post=2475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ecovis.com\/malta\/wp-json\/wp\/v2\/tags?post=2475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}