Income Tax (Form of Returns) (Amendment) Rules, 2005

L.N. 191 of 2005

INCOME TAX MANAGEMENT ACT

(CAP. 372)

Income Tax (Form of Returns) (Amendment) Rules, 2005

IN exercise of the powers conferred by article 58 of the Income

Tax Management Act, the Prime Minister and Minister of Finance has

made the following rules>

(1) The title of these rules is the Income Tax (Form of Citation and

commencement.

Returns) (Amendment) Rules, 2005, and they shall be read and construed

as one with the Income Tax (Form of Returns) Rules, 1994, hereinafter L.N .172 of 1994.

referred to as “the principal rules”.

(2) These rules shall be deemed to have come into force as

from the year of assessment 2005.

Immediately after rule 2 of the principal rules, there shall be Adds rule 3 to the

principal rules.

added the following new rule 3>

Any person who derives income from a qualifying

sale as defined in the Sale of Agricultural Produce Rules,

2005 and to whom rule 2 of these rules applies in respect of

2005. such income, shall fill in and deliver to the Commissioner

the form prescribed in Schedule D to these rules by the 30 th

June of the year following that in which the income was

derived.”.

3. Immediately after rule 3 of the principal rules, there shall be Adds rule 4 to the

principal rules.

added the following new rule 4>

Any person who qualifies under the provisions of

“Incentives for

job creation.

regulation 13 of the Business Promotion Regulations, 2001

and to whom rule 2 of these rules applies, shall fill in the

2001. form prescribed in Schedule E to these rules and attach it to

the income tax return for the relative year of assessment

submitted to the Commissioner.”.

4. The following new Schedules D and E shall be added to the Adds Schedules D

and E to the

principal rules>-

principal rules.

Schedule D

(Rule 3)

Inland Revenue Department - Information regarding Sale of Agricultural Produce

Personal Details

Dettalji Personali

Sale of Agricultural Produce

Payor Details [attach forms AS3]

Non-Qualifying

Qualifying Sales

Withholding Tax

Total Sales (Lm)

Name

SAP No.

Sales (Lm)

(Lm)

(Lm)

1a

1b

1c

1d

1e

1f

2a

2b

2c

2d

2e

2f

3a

3b

3c

3d

3e

3f

4a

4b

4c

4d

4e

4f

5a

5b

5c

5d

5e

5f

6a

6b

6c

6d

6e

6f

7a

7b

7c

7d

7e

7f

8a

8b

8c

8d

8e

8f

9a

9b

9c

9d

9e

9f

10a

10b

10c

10d

10e

10f

Totals

11a

11b

11c

11d

Total expenditure on agricultural activities

Net income from agricultural activities

Expenditure allowable on non-qualifying sales

Net income from non-qualifying sales

Complete this part if you are considering the 3% tax to be final [WITHHOLDING TAX CONSIDERED AS FINAL]

Deemed income from qualifying sales

Tax Rates Applicable (Married or Single)

Tax on deemed income taken as first part of total income

Complete this part if you are exercising the option in terms of Rule 15

Irrevocable Notice in terms of Rule 15

I do hereby exercise the option contemplated by Rule 15 and have my tax liability for the year of assessment 2005 determined

on the basis of the actual sales of qualifying produce less all direct expenditure incurred during the year. I am also directing that

the three percent (3%) tax withheld during the year, as indicated below, be credited to my account. I am fully aware that this

notice is irrevocable and declare that proper books of account have been kept and will be provided to the Commissioner of

Inland Revenue upon request.

Sign here if you are claiming back the 3% withholding tax

Signature

Withholding tax claimed back

LM

All persons filling in this form must sign here

Signature

Date

Schedule E

(Rule 4)

Inland Revenue Department - Job Creation Incentive

Ref

Name

Y/A

BPA Regulation 13 - [Incentives for Job Creation]

Documentation required

a)

Certificate issued by the Employment and Training Corporation [Regulation 13 (1)]

b)

Documentation referred to in Note 1 below

c)

Where applicable, the written approval by E.T.C., for training programmes provided by employers to qualifying individuals

d)

Where applicable, the written approval by ETC for claims of cash grant(s) in lieu of additional deductions.

Particulars of Employer

P.E. No. >

P.E. No. >

P.E. No. >

P.E. No. >

Particulars of Qualifying Individual(s) in respect of whom benefit(s) are being claimed

ID number /

Amount set to Qualifies under

Approved

Rate for

Additional

Date of

Tax Reg. Name

Wage Cost

determine Upper

Reg 13 …

Training

additional

Employment

Deduction

limit 1

subreg.

Programme?

deduction

No.

Totals

To be filled in ONLY where cash grants have been claimed in lieu of additional deductions

(deduction)

(deduction)

(deduction)

(deduction)

a] Additional deduction [as computed above]

(apportion the resulting additional deduction above, according to rate(s) of tax applicable)

multiplied by

[rate of tax]

[rate of tax]

[rate of tax]

[rate of tax]

b] rate(s) of tax at which enterprise was otherwise taxable (lowest rates first)

Result of multiplying values in row (a) by the corresponding rate in row (b)

CASH GRANT [representing 70 % thereof] >

Note 1

This amount is referred to in Regulation 13 (7) and represents

a. an amount set by the E.T.C. for qualifying individuals defined under subregulation 13 (a)

b. wage cost for the 12 months before commencement of this employment of qualifying individuals defined under subreg. 13 (b)

c. wage cost for the 24 months before commencement of this employment of qualifying individuals defined under subreg. 13 (c)

In all cases documentary evidence has to be provided and attached to the tax return.

IRD - MALTA

Name:___________________________

Signature:___________________________

Date:__________________