97 tal-2000 - Regoli tal-2000 li jemendaw ir-Regoli tal-Prospett tat-Taxxa fuq l-Income għal Kumpannija, Korp Magħqud jew Intrapriża

L.N. 97 of 2000

INCOME TAX MANAGEMENT ACT, 1994

(ACT NO. XVIII OF 1994)

Income Tax (Form of Return for a Company, Body Corporate

or Undertaking) (Amendment) Rules, 2000

IN VIRTUB of the powers conferred by section 57 of the Income

Tax Management Act, 1994, the Minister of Finance has made the

following rules:-

(l) These rules may be cited as the Income Tax (Form of

Return for a Company, Body Corporate or Undertaking)

(Amendment) Rules, 2000 and shall be read and construed as one

with the Income Tax (Form of Return for a Company, Body

Corporate or Undertaking) Rules, 1995, hereinafter referred to as

"the principal rules" .

(2) These rules shall come into force upon their

publication in the Gazette in respect of the year of assessment

commencing on the 1st January, 2000 and of subsequent years of

assessment.

(Rule 2)

Income Tax Return

and Self Assessment

on behalf of a Company, a Body Corporate established by

Statute, or a Trading or Commercial Undertaking operated by

an Entity (Section 30) whether resident in Malta or not

Complete Q'\/y If prIri8d informtIIlcn is rTiSling «Incared

I I

R.fNo.

Name

House NoJName

s..... t

locality

CounlJy

c--

1. In pursuance of the provllions or the Income Tax AdI you are hereby required to .... miIIh me on this form wIh a true and correct dIdI,.1on or the Income or the

company, body corpora. establsned by statute or trading or commerdll undel1lkl'lg, tor the beSlS year 1ndk:8ted In this reun I ~ • Mr--m... computllon.

2. All income at a resident company, body corpora. or tradtng 01 commerc~1 under1almg, accruing In or derived from "alia or el8ewhere, and whIhw rKilNed In ......

or not, during the accolZltlng per10d stated In Part 1 below, mUll be stated.

For Form T.A. 2 in the Schedule to the principal rules, there

shall be substituted the form in the Schedule to these rules.

Exceptal prcwlded in Mdion 680th Income Tax Act (Cap. 123)1' inCOme of. non-resldlntcom~ny. body corporat8 ortrllclng orcommefdll u........ 1dng, aoc:n.ing

In or derived from Mana, whether recefved in Mala or not, during the acco\l'1ting pel1od ... ted In Part 1 betow. mUlt be 1nCtuded.

Fun details Should be given relating" all mltte,. reqUired to be dlllctosed In this return.

...

A copy of the ftnandIl statementl audled by a Certlled PubIk: Accountant and Audior MUST be abd'led to ttiI rltum

No 8eCtjgn d this retum is tD be tin: blank. Where there is nothing to report, the word 'NONE' Should be emtIM.

e.

The 18m 'Income Tax Acts' ulled )nthil return has the meaning aSSIgned to It In MCtion 2 otthe Income Tax Act(C8p. 123) and, &.nIuI ae.rwtM DIad, the IKtIonI

quo-.c:J In thlIletum refer to the Income Tax Act (Gap. 123).

This return Ism be completed andforwlrded 10 as to re.ch the lrilnd Revenue Department by nor liter than the II_day althe ninth monthtouowlng thlttowhlch

the KCOUntl for the relattve financial period are made or the tN~-ftrst March of the rell1tve y.. r at ...... ment, WhicheVer ill the ....

This return will be canied tree through the post In Maltllll' enclosed In an envelope marked 'Income Tax'

I.

CO_SSIONER OF INLANO REVENUE, Florton. CMR02

PART 1 :: COMPANY DETAILS

==========,--,=[i=:.

====,---,:=:::=:::=:::::::::'

rT[!""""ertnershlP Number] ~I

[y;::V,::"T::NO]::.=....::,

IIC1IvIlYJ ~I :=::=::=::=::=::=::=:::=::::=::::=:::=::=::=::=:::=:::=::=:::=::=:'

[i[M8in lJadlng

I

I

4. ollie.

Address

of rwgIlItIored

I place

of

l

conlrol, manllllemellt

_

I

I

.

j

. Tel. No.

Fax. No.

and lIdministnllion

~~ ~

NAME

ADORESS

[y[ACcOUNTING DA"TE]

If the basis year in respect of which this return is being made is a period other than the period 1st January 10 31st December, state the

± __

_±

period covered, date and number (If available) of the permit issued by IRD.

E~FROM_±--=--TO

--=DA=.:Tl!=--_ _]

Petmlt Number

-:J

UJ£::URRENCY

ECU~YJ

State the currency used in this lax relum and the financial _ _

in accordance with the denomination of the company's share capital.

[8: [S;te wheth... 1he company: (Mark [ "" l as appropnat;j]

No

Yes

(~

benefits uncler the Industrial Development Act (Cap.325)

(I~

operates a foreign income account

(in) is an International Trading Compeny as deflned in the Income Tax Act

(Iv) is owned in whole or ill part by non-resident shareholders

forms part of a group as defined in section 16 of the Income Tax Act

(v)

(vi) has peid out dividends during the year

(vi~

has carried out trading activities dUring the year

(Viii) had morelhan one trading source during the year

(Ix) was put into liquidation during the year

(x)

has been converted into a partnership during the year

(x~

has merged with another company during the year

PART 2· SELF ASSESSMENT

..

,"C·J:-,'"

;'1.,-

~-.

'"

-".

""

.-

"'.0"

MalteseTuecI FoNIgn Income

MalteseTuecI FONIgn Income

Account

Account

Account

Account

rrA

8ecIIon

fl*I)

(IotM)

-

r;;i

.e(1Ka) Income I (Iossl from trade, business, elc. before capital allowances • cunent year

1b

-

rJ;i

Balancing charge

4(11

2b

Capital Allowances

--

-

Brought forward

3b

3a

- -

Income Tax Act ·lnlt"1 Allowance

4a

4b

Income Tax Act • Annual Wear & Tear

Sa

lib

~

Investment Allowance. current year

Accelerated DeprecIation - current year

-

fki

Balancing allowance

8b

-

j;;i

capital allowances absorbed

Ib

-

f10r

10~

Unabsorbed capital allowances elf

-

11~

f11.r-

Income from trade, business, etc. net of capital allowances I (Jossl

-

1--.--

DIvidends (Groa)

1

12t

4(1Kcl InteIMt (GroA)

13t

DIscounts or premiums

14t

-

15~

[15-1

Gross Rent(s)

--

-

18~

Interest Payable

- --

NTOM licence

18~

Rent, ground rent or similar burden payable

19~

20% fI,Ilther dedUction

-

~aI

4(1)(_)

20~

Net Income from rents

-

[21-1

21~

Gross Ground Rent(s)

-

mal

22~

Ground rents payable

-

~

23~

Net Incorne from ground rents

-

~

24~

Royalties, etc.

-

~aI

25~

4(11lgl other Income

-

~

28~

Net income (loss) on this page carried forward to next page

~r2.TION1.COItIPU1'AtJoNOF~""~.

.-

.,'>,.i;j~D\;.J~

MlIIta.e Tued Foreign Income

MaIt_Tued Foreign Income

ITA

Account

Account

Account

Account

Section

(total)

(total)

2~

2~

Net Income (Loss) brought forward from previous page

28~

Capital loss brought forward

2Saf

29~

29~

Capital galn/(Ioss) - current year

-

r;-ai

30~

Capital gains

-

[fur-

31~

Unabsorbed capital loss elf

Flat rate foreign tax credit

-

-

I

f3bI

Income to be grossad up I Tax Credit

-

Allowable deductions against sources of Income other than

iU.r

33b

Trade, Bu.ine.., etc. and rent.

r;r

-

1Mb

Net Income/(Loss) before Exemption

Exemptions

-

~~

IDA· section 4 (Tax Holiday)

35a

13611

IDA - SectIon 5 (Export Incentive Scheme)

IDA· section 5A (Inv. Incentive SCheme)

38a

IDA· section 9 (Tax Free Dlvldends)

Other exempt income

~

Act:L

-

-,...-

Total Exempt Income

-

Net Income/(Loss) after Exemptions

Loss transferred between Tax Accounts

14211

-

-

-

fu~

Net Income/(Loss) after loss transfer between tax accounts

16tD22 Group Loss Relief

-

:;r

I~

Los. SURRENDERED to group Company/Companies

Income Tax Rag. No.

Name

Amount

-

~

Net Income/(Loss) after loss surrender to group companies

4511/

---

Group Loss CLAIMED

-

Unabsorbed Group Loss brought forward

Group los•• current year

Name

Income Tax Rea. No.

Amount

r-r-

-

I~

Group Loss Absorbed

-

~.r

49~

Unabsorbed Group Loss carried forward

r--r---

-

Net Income/(Loss) after Group Relief

5Da

SOt

Unabsorbed Trading Losses brought forward from previous year

51a

51t

-

-

Totallncome/(Loss)

5ZIi

Loss transferred between Tax Accounts

-

-

~

Chargeable income for the year

54t

-

~

5~

14(1)(g) Unabsorbed Trading Losses clfwd

Page 3

-

.c, ..

.<'-'_>,~T:k .• ~

.ii;

MaIt_ TuecI Account

FONIgn Income Account

.. ~

~

Charg_ble Income for the yeIIr

RIte'"

Income

TM

Income

TM

RIte'"

Income subject to reduced rates of tax

--

--

-

-r-

57. 5Tt

57e

lOA· Section SA (Inv. Incentive Scheme)

sac

Sh

SIt

lOA· Section 8 (Reduced Rate of Tax)

59t

59c

IDA· Section 15 (Double Taxation Treaties)

80a

80t

80c

IDA· Section 248 (Red. Rate. ofTax· Ho....)

5 61e

61. 61t

MFSC Act • Section 30

;;r 1U.(25lUii -

ITA • SectIon 58(7) (ColI. Investment Scheme)

62t

62c

63b 27.&1 63c

ITA· SectIon li8(8) (Dividend. hom ITC'.)

63. Stock Exchange Act • SectIon 31

64b

64c

15 65c

In_ _ t Income .ubject to 15"10 wi1h. tax

65b

:e;r ~ l88ri -

sac

DivIdend. not subject to further tax

66a

68b

Other income subject to reduced rates of tax

--

--

-

r---,--

A~E

J

67a

67b

67e

Act

68b

6Ic

ISh

-:s;r35

-

35 69c: -

-,--

r----r-

69b

69a

69d

89f

InCOrM .ubject to nomt«l rate of tax

-

-

r-- -

r--

~

~

EC

70e

170b

TOTALS

Relief of double taxation

-- -

-

-

-

71a

71b

Double Taxation Relief

72a

72b

Common_lth Relief

Unilateral Relief

73b

FlatoRata Foreign Tax Credit

741l

l75ar -

-

~

Tax chargeable

Tax set otf

Tax at source on dividend.

I·-'·~~I

TA.S.

Name

I

I

-

-

r--r---

17I.r-

Total Tax at Source on Dividends

15% withholding tax on investment income

77a

-

rn.r-

Total Tax Set off

Tax paid

Date

ReeeiptNo.

-

-,--

79a

Provi.ional tax payment

ilGa

Provl.ional tax payment

1I1a

Provi.ional tax payment

1I2a

Prov. Taxon Capital Gains

-

-r-

I3b

Other tax paymenta

~b

Total Tax Payments

- -

-

-

r--- ,--

lISa

TAX BALANCE DUE IN TERMS OF SECTION 42 OF THE ITMA

Ub

- -

-

-

r--- , - -

TAX REFUNDABLE IN TERMS OF SECTION 48 OF THE ITMA

86a

86b

....

PART 3 - RECONCILIATION OF PROFIT PER FINANCIAL STATEMENTS TO CHARGEABLE INCOME

@:c

~

"~~' •• ~."~CQlll_-:\~;,,:,~i; ;~:,'.~

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. . . .fn . . ~lI!I' ... ~.'.,Vril.j

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~ 1~-~II------1

,-tc

~

,-L

~

;1---11-

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~

~I_-

3.

4. I

(sub-total) 111

This Total should agree ~

to lines 54 or 55

RECONClUATION OF; SALARIES. WAGQ.ErC.

(Please insert the amounts reIatinrI to the IICCOUIIing period COWt'fId by this ,..",)

I

I Note

1. Gross emoluments reported under the F55 Rules

I

I

where the ....riH, WIIll-,

In those ClIlI85

2. Gross emoluments falling under the Part-Time Work Rules

to the

etc. are reported

Inland RevtIIQI

I

I l4l, the portion altribWIbIe to the company

form of 'cetllnlliled'

1Ilt-

l.nder a

or 'group'

3. Other emoluments not included under 1 and 2 above

should be given.

4 Adjustments

These emoluments are reported under P.E.

Employer's share of 5.5. Contributions

Numberls

Disclosed 'n the financial statements as foIIc>.-

Salaries

Wages

Directors' remunerfton

Others (specify)

I Others (specify)

(sub-1ateJ of ,q;ustments)

I

I

<These totals should agree>

PageS

PART 4 - RECORD OF RETAINED PROFITS AND DISTRIBUTIONS

CURRENT YEAR

CARRIED

BROUGHT

MOVEMENT OF RESERVES

FORWARD

FORWARD

0lvidencI. PIIid

Alloatled

:·fOAf!JGNlNCOMe·ACCOUNT

profits from participating holdings

1. Other types of foreign income

2-

Income from overseas permanent establishment

3. Dlvldencls received out of foreign income accounts

4-

Total oflines 1 to'-

5-

MALtESE TAX!O ACCOUNT

6. Income having suffered tax@ 15%

Income having suffered tax @ 25%

7.

6. Income having suffered tax @ 32.5%

Income having suffered tax @ 35%

9.

10. Income having suffered tax @37.5%

11. Income having suffered tax @[=:J

%

12- Income having suffered tax @ [=:J

%

Exempt profits

13. 14- Total oflines 6 to 13

I

I

I

I

15. UNTAXED ACCOUNT

I

I

I

I

16- Total distributable profits (Lines 5 + 14 + 15)

I

I

I

17. Total unclistributable reserves

(

)

18. Less proposed divldencls as per balance sheet

TOTAL RESERVES

Foreign Income Account

Maltese Taud Account

untaxed

ToUI

DIVIDENDS PAJD DURING THE YEAR

Participating

Exempt

Other

Account

Other

Holdings

Gross dlstrlbutlon

Deduct

I(

L=:JJ

)1

Unrelieved foreign tax

(

)

>II

Malta tax charged, analysed as

~

(

(

) (

)

)

2a Malta tax after rei. of double taxation

(

(

(

)(

)

)

)

Dou bIe taxation relief

2b

)

)

(

(

)(

(

)

2c Commonwealth relief

(

)

)

) (

(

(

)

Unilateral relief

2d

(

)(

)

(

)

2e Flat-rate foreign tax credit

Net distribution

Deduct (WIthholding Tax)

(

(a) Section 62

)

(b) Section 67

(

)

section67A

(c)

(

)

Net dMdMda ptIk/

.....

PART 5 - DETAILS OF COMPANY SET-UP

UST OF SHAREHOLDERS. DMDENDS RECEIVED AND ACCOUNT BALANCES 'MTH COMPANY

AccowIt

N8me

IncomeTu

s.unc.

Tu

Numbwol

Qassol

Groa

NIt

Raglftl'lltlon

8haIw

0MdInd

DvIdIncI

8halwhllld

Wlhhllld

wIh

M8rk[ v]tr..-

Number

eornp.ny

,

i" .• T9fu'.

,"

1.-·

h{2

,

',"

UST OF DIRECTORS AND REMUNERAnoN RECEIVED

N8me

Any ............ lnc:IucIng ............

IncomeTu

AIportId under F88 Au"

Raglstl'lltlon

Nat .......

~._01

M8rk[ v]tr.-

Number

GIOISPay

undIr fS8 Au'-

Soc. sec. Conl

Page 7

PART 6 - SUPPLEMENTARY INFORMATION

Please give any other details and information you consider necessal}'.

PART 7 - DECLARATION

r---

N8me of comp8l1Y. body corporate established by statute or trading or commercial undertaking in respeet of which this ...tum is made.

I declare that this form contains a full and correct return of the reqUired particulars for the year.

Name of person making declaration (BLOCKS)

Designation

Signature

Dele

Legal representation of the company is vested in

Name (BLOCKS)

Address

HEAVY PENALTIES ARE PROVIDED UNDER THE INCOME TAX ACTS FOR FAILING TO SUBMIT A RETURN,

FOR FILING A LATE RETURN OR FOR RENDERING AN INCOMPLETE OR INCORRECT RETURN.

ThIs return Is to be completed by the euomey, factor, receiver, admlnlstnltor, man-rJer or prlncl".t ome- of the company,

body corpome or rr.IIng or commercial undel1llklnll.

_ _ I!!!:.~-

_oL