Vat Compliance, Obligations & Penalties

Navigating VAT compliance is a critical aspect for businesses, and understanding the core obligations and the potential consequences of non-compliance is essential. This webinar will provide a practical overview of VAT compliance requirements, including, among other things, registration, invoicing, reporting, and record-keeping obligations. The session will also address common pitfalls and the range of penalties that may be imposed for non-compliance. Practical, real-life scenarios will also be discussed to illustrate how businesses can proactively manage their VAT responsibilities and mitigate risks. This session is designed to equip finance professionals, accountants, tax advisors, and business owners with the knowledge needed to ensure compliance and avoid costly repercussions.

The Speakers

Jonathan Pace is a Manager within Deloitte Malta’s Indirect Tax service line, focusing on the provision of indirect tax advisory and compliance services to domestic and international clients.

Jonathan has been active in the local tax and financial services industry since 2014 and is currently a Manager within Deloitte Malta’s Indirect Tax service line, focusing on the provision of indirect tax advisory and compliance services to domestic and international clients. He also has experience working overseas, having been seconded to the Luxembourg office for a period of seven months between 2016 and 2017.

Having attained the ACCA qualification in 2016, Jonathan is an accountant by profession and a member of the Malta Institute of Accountants. In 2022, Jonathan also obtained the Professional Award in Taxation offered by the Malta Institute of Taxation.

Jonathan has extensive experience in VAT, spanning various industries and sectors, in particular iGaming and yachting. Currently, he also forms part of the Young Members focus group within the Malta Institute of Accountants and occasionally delivers specialised VAT training for various educational institutes in Malta.

Vanessa Micallef joined the Deloitte Malta’s tax team in 2006 after graduating with Honours in Bachelor of Accountancy from University of Malta. In 2008, she obtained a Diploma in Taxation from the Malta Institute of Taxation. Vanessa works on both direct tax and indirect tax projects for local and multinational groups. Since 2011, Vanessa has specialised in VAT whose role primarily entails providing indirect tax advice to entities carrying out business in Malta, particulary on immovable property and gaming. She is also involved in VAT compliance projects for both local and international firms and assists companies undergoing VAT investigations. In addition, Vanessa is currently working on various due diligence engagements and M&A transactions.