Session 01 – James Cutajar

The session will be looking into the standards of IAS 2 Inventories and IAS 40 Investment Property. The following will be discussed in more detail:

  • Identification of investment property and distinguish from property held for resale
  • Applying appropriate recognition
  • Measurement and accounting treatment and identifying the related disclosures

Session 02 – Dr Melanie Ciappara

Transactions involving immovable property may have various tax implications that the parties should consider.

The session shall focus on:

  • The tax implications that arise in case of transactions involving immovable property situated in Malta for the seller.
  • The stamp duty implications that arise in case of transactions involving immovable property situated in Malta for the purchaser.
  • Property transactions between related parties.
  • Exemptions and special regimes that apply to specific transactions.
  • Taxation of rental income.

Session 03 – Kenneth Cremona

This session will give a detailed walkthrough of the various VAT considerations parties dealing with immovable property should be aware of. The general rule is that immovable property is exempt from VAT. However there are transactions which may be considered to be debatable, while naturally others which are chargeable for vat purposes as per the specific exceptions dealing with immovable property. Hence, this session will discuss the definitions and scope of the exemption. In the absence of clear-cut legislative definitions, we will refer to CJEU case law and domestic practice and guidelines. The treatment of input VAT will also be evaluated, and moreover, the possible utilisation of partial attribution.

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Speaker

James Cutajar is a certified public accountant and a fellow member of the Malta Institute of Accountants. He graduated with a Master in Accountancy from the University of Malta in 2016 and also holds a Diploma in VAT Compliance issued by The Malta Institute of Management in 2017.

James joined the Outsourcing department at RSM Malta in 2018. James is an assistant manager leading several accounting assignments for national and international clients operating in different industries, specialising in construction and property companies.

Dr Melanie Ciappara is responsible for tax compliance  services and related advisory matters within RSM’s tax team. She qualified as a  lawyer from the University of Malta and further pursued her studies in international taxation at Leiden University, the Netherlands, where she obtained an Adv. LLM in International Taxation.  Over ten years of experience, both in Malta and abroad, where she specialised in  providing a variety of services to corporate and private clients,  ranging from international tax advisory to tax compliance services. She is also a member of the MIA Direct Taxation Committee

 

Kenneth Cremona graduated with a Master in Accountancy from the University of Malta in 2015. Kenneth joined RSM Malta in 2016, initially working on Income Tax Compliance dealing with clients established in multiple industries including Gaming, Immovable Property & Construction, Investments, Pharmaceuticals and Retail. During 2019, he specialised in VAT advisory and was promoted as a Manager in 2022. Kenneth is also a CPA warrant holder and received the Professional Certificate in Taxation issued by the Malta Institute of Taxation in 2017.

Events Resources

Events resources will be sent by email after the delivery of the event.