Maltese Value Added Tax Implications of Brexit

During this session, we shall identify the main Maltese VAT implications caused by UK’s exit from the European Union and discuss how the Maltese VAT treatment of transactions of goods and services from/to the UK will be affected. This will be done by going through scenarios of typical B2B and B2C transactions of goods and services between Malta and the UK and explaining what the VAT treatment was pre-Brexit (up to 31 December 2020) and how this VAT treatment changed post-Brexit and why (by making reference to the relevant parts of the Maltese VAT Act Cap.406 of the Laws of Malta and the EU VAT Directive Council Directive 2006/112/EC. Apart from the changes in VAT chargeability other topics will also be discussed including the changes in the VAT documentation which needs to be filed and changes in the VAT Return fields in which such transactions are to be declared and why.