Malta Tax Agency Issues Guidance on Reduced VAT Rate for Supplies of Custody of Securities

The Maltese Inland Revenue April 1 issued guidance on the 12 percent reduced VAT rate for supplies of custody of securities, under EU Directive 2022/542, on rates of VAT, and Legal Notice 231/2023. The guidance includes: 1) the Jan. 1 effective date for the rate; 2) the definitions of “securities” and “custody;" and 3) the exemptions for global custody services and nominee services. [Malta, The Commissioner for Revenue, 04/01/24]

Reference: View Guidelines. View Index.