bpendlture: Luy (Fomgn InveslIMDI) RqulaUoll!i. 1990 (fomgninveslimdi)

L.N. 102 of 1990

EXPENDITURE LEVY ACT, 1990

(ACT NO. XXII OF 1990)

bpendlture: Luy (Fomgn InveslIMDI) RqulaUoll!i. 1990

IN exercise of the powers confe rred by !\e~t ion 14 of the

Expenditure Levy Act, 1990. the Minister of Finance has made the

following regulatiom:-

I. These regulations may be ci ted 115 the Expenditu re Levy 0,.,,,,,,, ....

(Foreign Investment) Regulations, 1990 and shall come intn force on """"""_ ....

the 5t h J uly. 1990CJlccpt for regulation 8 which shal l come into force on

the 16th J uly, 1990.

In these regulations, unless the oonteJIt otherwise req uircs:-

"Accountant General" means the Accoun tant General an d to

the cJ[lent of the authority given, includes any officer of the

Department authoriud by the Accountant General in th.a t behalf

fo r the purpose of these regulations;

~ Act" means tbe Expenditure Levy Act, 1990

" foreign investment IICrviccs" means those services specified

in Item 3 o f Ihe Schedule 10 lbe Aa ;

Min speClor~ shall have Ihe meaning ascribed 10 it in $Cclion Sof

the Act ;

Min voice" includC$ the appropriate form preseribed from time

to ti me in terms of th e Ellchange Con trol Act;

Mrcgistered" shall have the meaning ascribed to it in section 9

of Ihe Act.

Forms refe rred 10 in these regulations shall be made available "",-,

free of charge by the Accountant General at the specific request of a

registered person o r of a person to be registered. No return , statement ,

certificate o r o ther information required to be subm itted by these

regulations shall be deemed 10 have been submitted unless it is mode on

a form supplied or approved by the Accountant Gene ral .

4, Any person who is in the business of providing services R<pu.. ....

specified in Ite m 3 o f the Schedule to the Aashall apply forregistration

by submitting the prescribed form d uly signed, in respect of each and

every C$tablishment providing such services, 10 the Accou ntanl General

wit hin fi fteen days from the issuance o f the requisite pe rm it by tbe

Comm issioner of Police andlor licence by the Cen tral Bank ; the

application form is 10 be accompanied by the o riginal or authenticated

copy of such permit and lor licence.

Kull min ikoll u bhala ~og\'Iol tieghu I-provvisla las-servizzi

spctifikati fil -Pan;la 3 la· I-Is!;eda li linsab ma' I,AII gha ndu japplika

ghar-rctistraujoni billi jaghli I·formula preskrina (firmala kif im iss,

dwar lI:ull stabbil iment li jkun qed jipprovdi da .... !; iHCrvini. liI1 -

,",CCQUllIalll G~n~raJ fi zmie n hmiSlax-il jum mill-hrug lal-permess

mc htieg mill-Kummissarju lal- Pulizija uljew lil:enza mi ll-Bank Centrali;

mal,fonnula ta ' l-applikazzjoni ghandha ligi annessa kopja awten likala

Jew I-Qriginal la' dak il -permess uljew liCcnza,

! , Meta I·Accoumam Gtnertll ikun sodisfall Ii min ,kiln qiegl'led

jllghmel I·applikazzjoni ghar· regist razzjoni jkun qieglled jikk onforma

rul'lu ma ' I-A tl. huw~ gl'l andu jol'l rog Certifikalla' RegiSlrnzzjoni u min

ikun qiegl'led japplika gha r-regislrlI7.zioni ma gl'l and ux jibda jaghmel

)(ogho lla' nego:.tju sak cmm jinhariglu dak i~·Ce rtifika t

IMa min ikun ia qieghed jaghmelllogholl& ' negoltj u q abel il·

bidu fis-sehh la' tbwn ir·regolamenti ikollu jedd ikompli b'dak in·

negozju s.akemm I·Aoccollmant General ma jirrifjU lax dik ir·

rcgislraujoni b'avvit bjl·mik lub ,

6, (I) L -A ccO lllltam GMual ghandu ikun avia l, fi ~mie n 30 jum

minn mela ligri xi l'Iaga, dwar kull wahda minn dawn il·libdiliel

(i) l·gheluq la n· negozj u li bih ikunu qed jingrl3taw servizzi

skedali;

(ii) il·bejgh jcw il -Irasfe rimenl lan·negozju Jew libdiJ fl·isem

kumme rqllli lan· negozju;

(ii i) libdil fl·indi ri12 ta' J·imkicn prinCipaJi fejn jilmexXll n-

negozju;

(iv) meWl , falli men l, inlerdizzjoni Jew inllbilitll. lal-pe rsuna

regiSlrala ;

(v)

ix·xoJjime nt ta' kumpannija inkorpo rala Jew la ' sOCjetll.

,

(vi) il-Iwaqqif lal· fornimenl la' sc:rvizzi skedali gl'lal kull

raguni ohra,

( 2) L-avvit gl'landu jinghala bi l-m iktub filwaql li jindika n-

Numru la' Regislrazzjoni u d-data meta suet il·bidla, Me la individwu li

jkun proprjelarju jmul Jew isir {allUI Jew jigi inle rden jew inabilil, il -

persuna li Ik un giel debilame nl awlorizzala tiggeslixx i n-negozju

grl3ndha laghmel l·a ...... it mehtieg, BI·isless mod, mela stralcjarju jibda

jmexxi I·atti ... ili la' kum pa nnija in korporatn , huwa gh andu javia lill·

A ccountant G~n~rul dwa r il·jum minn me tD hU W3 ikun assun13 r-

re spoll5abbilt~ u c-eirk oslanzi li bihom ikun ha l' lmeuija ridejh ,

When the Accountant General is 5Blisfied Ihat the person

submiu ing theapplicalion for registration is in oonformitywith the Act ,

he shall issue a certificate of Registration and the person applying fo r

registra tio n shall no t commence busi ness until such Certificate is issued

Provided that any person already carrying 0fI busi ness prior 10

the coming inlO force o f these regulations 5halJ be entitled 10 carry on

such business unless t tle Accountant General by written notice refuses

such registration.

(I) The Accountan t Gene ral is 10 be notified, withi n 30days

fmm the occurrence of the even t, of any of tile following changes

Ci) closing down of the busi ness supplying scheduled

services;

(ii) salcortJansferofbusinessor changc in the trading name

of the busi ness;

(iii)

change in the address of the principal place al which Ihe

business is carried on;

(iv) dea th . bankruptcy. interdiction or incapacity of the

registered pcroon;

(v)

dissolution of incorporated company or partnershi p;

"d

(vi)

cessation of supply of sche duled scrvices for any other

reaso n.

(2) Notificalion shall be made in wnung indica ting the

Registration Number and giving the date on which the changc took

place. When an individual proprietor dies or becomes bankrupl or

inle rdicted or incapacitated , the person duly au tho.ued 10 carry on Ihe

busineS$ must make the necessary IlOtirlC3tion . Similarly when a

liquidalor lakes ove r Ihe affairs of an incorporaled company he shall

notify the Accountant Gc neral of the day from which he became

reS[XInsible and the circumstances in which he look ove r.

The Expenditure Levy Rcgisu ation Number give n o n the

relative CcrlirlC3te of Regisl ralion by the Account ant General shall be

stated in legible charact ers on Ihe invoice given in terms o f scction 7 of

the Acl and on all returns. statements or othe r documents required to be

submilled by these regu lations.

An Elpenditu re Levy shall be charged to the purchase r and

collected by the selle r at the Tale often percentum (100/0) on Ihe valueof

Maltese currency exchanged into foreign currency for investmen t

pUrpo5es. and on the Maltese currency equivalent o f the foreign

currency value o f the investment purchased, acquired or transferred. as

specified in Item 3 o f the Schedule to the Act.

The registered person shall deposit the levy collected in a

separate ba nk account in tenn s o f section 5 of the Act , and he is to

supply the Accountant General wi th details o f the relevant account

wit hin a week fro m the opening o f such account and thereafter deposit

such levy into the accou nt at inte rvals not exceeding fiftee n days. Any

money 50 deposited in any such account shall only be payable to, and

may only be released by the bank in favour of the Accountant Ge neral

on accoun t of a n ~ levy collected by the seUer.

Invoices req uired to be issued by the seller to the purchaser in tnfOfma';oo

.,K ~

term s of section 7 o f the Act mll5t show in legible characters the

following :-

(i)

a oonsecu tive ide nt ifying number;

(ii)

Registration Number

(iii) Name and address o f registered person andlor

establish men t

(i v) da te of suppl~

(v) name. aOdress and Identity Card Numbe r of the

purchaser ;

(vi) • description wh ich identifies the investment. rales of

exchange appli~able on the dale Ihe service is rendered and the

value of the investmen t in Maltese cu rrency and its fo reign

currency equivalent: and

(vii) The Expendi ture Levy collected in Maltese currency.

A purchaser of schedul ed services Shall be required to keep

the invoice for services suppl ied for a period of not more than two years

from the date of transaction and, within such period, to show such

invoice to a ny inspector or to any police officer on dem and.

(1) Every registered person must keep up to date records

and lICOOunts of all scheduled services supplied in the course of his

business. Records, including a copy of the invoi ce, shall be kept in a way

wh ich will enable an Inspector or the Accountant Gene ral to check and

reconcile the data , upplied in the Expenditure Levy month ly returns.

Such records shall be preserved for at le ast two years and made readily

available to the Accou ntant Gene ral on request.

( 2) Records ke pt on a computer, on magnetic tape, disc or

any other medium , should be readily conve rtible into satisfactorily

legible fonn and made available to the Inspector or the Accoun tant

Gene ral on request. A registered person is to inform Ihe Accou ntant

Gene ra l immediately he decides to use the serviCC$ of a computer

bureau and guarantee access to records pe rtaining to his business whieh

are kept by the bureau as if they were kept at his principal place of

business.

Every regiStered person shall submit by the fifteenth day of

the month a return to the Accountant General, including a nil return ,

made 0 1,11 in triplicate on the form provided o r approved by the

Accountant General giving details of sc rvices supplied and levy

collected and any adjustme nts or refunds of levy au thorised by the

Acrountant General in respect of the preceding month.

The tOlal Expenditu re Levy collected shall be remitted to the

Accountant General toge ther with the submission ofl hc monthly return

and an appropriate receipt shall be issued . Proof of payment shall be the

receipt issued by the Acoountant General.

~ re the Accountant General i,satidied that the panicular

circumstances of the case warrant an adjustment, the registered person

shall , o n the occasio n of the next remittance to the Account ant Gene ral ,

be e nt itled to a 5et-off and re<lOup from the 10lal amounl of Expenditure

Levy to be rem itted to the Accountant General an amount

corresponding 10 the amounl overpaid provided that he shall quote on

that monthly return lhe Accountant ~ne ral's aUlhori ty for such 5et·

off.

The Aa:oumanl General may make assessments in terms of

section 10 of Ihe Act within two years from Ihe day on Which such levy

was due or had been collected.

11, When the Accounta nt General becomes aware that an

unregistered per.;on has collccted lhe Expenditure Levy prior 10

registralion , such levy shall have to be rem it ted 10 the Accountant

General befo re consideration can be given 10 the pc:r.;on·s application

for registralion , and Ihis wi lhoul prejudice 10 any action that may be

taken in terms of the Act and any other law or regulation in force. If, for

any reason whatsoeve r. the person ca mlOl be registered by the

Accountant General, such levy shall DOt be refunded to the applicant.

Persons who on the date of publication of these regulations

are in possession of a licence 10 supply the scheduled 5ervices issued by

the ~n tral Bank and a pcnni t iss ued by the Commi ss ioner of Police

Mlall nODCthe less apply for registration by the Accountant General for

Ihe purposes of these regulations by the 13th July, 1990.

IppubbIikal mi6-Dipoortilncru ta' ~11IIonDauj<,.; KMoiIja PMi .- . c f>yw ~ "' ,..",.

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