Fringe Benefits (Amendment) Rules, 2010

L.N. 292 of 2010

INCOME TAX ACT

(CAP. 123)

Fringe Benefits (Amendment) Rules, 2010

IN exercise of the powers conferred by articles 4(1)(b)(i) and 96

of the Income Tax Act, the Minister of Finance, the Economy and

Investment has made the following rules:–

(1)

The title of these rules is the Fringe Benefits

(Amendment) Rules, 2010 and they shall be read and construed as

one with the Fringe Benefit Rules, hereinafter referred to as "the

principal rules".

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

from the year of assessment 2010.

In article 2(1) of the principal rules, in the definition

"benefit", for the words "or 45;" there shall be substituted the words

"or 45:" and immediately thereafter there shall be added the following

proviso

"Provided that, notwithstanding anything to the contrary

contained in these rules, the private use of an aircraft by an

individual who -

(a) is an employee or officer of an employer,

company or partnership whose business activities include

the ownership, leasing, or operation of any one or more

aircraft or aircraft engine which is used for or employed in

the international transport of passengers or goods, and

(b)

is not resident in Malta,

shall not be deemed to constitute a benefit for the purposes of

these rules.".

€0.09