Deduction (Tertiary Education) Rules, 2010

L.N. 427 of 2010

INCOME TAX ACT

(CAP. 123)

Deduction (Tertiary Education) Rules, 2010

IN exercise of the powers conferred by articles 14F and 96 of

the Income Tax Act, hereinafter referred to as “the Act”, the Minister

of Finance, the Economy and Investment has made the following

rules

(1)

The title of these rules is the Deduction (Tertiary

Education) Rules, 2010.

(2) These rules shall come into force as from the year of

assessment 2011, in respect of fees paid as from 1 st January 2010.

(1)

Where a deduction is claimed by an individual in

terms of article 14F of the Act, the said deduction shall, subject to the

provisions of these rules, be allowed against his income for the year

in which he has successfully completed his studies

Provided that the deduction to be allowed shall be the

amount of fees actually paid or ten thousand euro (€10,000),

whichever is the lesser

Provided further that, to the extent that the deduction

cannot be wholly set off against the income of the individual or of his

spouse, where applicable, for the aforesaid year, it shall be carried

forward and set off against the income for subsequent years in

succession.

(2) The deduction shall only be allowed where the individual

has not received or will not receive any form of compensation

regarding the fees paid for the said studies from the Government or

from any other Government or private entity.

(3) No deduction with respect to tertiary studies may be

claimed under these rules if the individual claims or has claimed any

deduction or tax credit for any year in respect of the said tertiary

studies.

The deduction in accordance with rule 2 shall only be

allowed where the individual claiming it submits to the

Commissioner, in the first year the claim is made, together with the

income tax return for the year, the certificate relative to the completed

program of studies awarded by the relative institution, such certificate

being confirmed as of a tertiary education level by the Malta

Qualifications Recognition Information Centre.

€0.09