DEDUCTION (TERTIARY EDUCATION) RULES

DEDUCTION (TERTIARY EDUCATION)

SUBSIDIARY LEGISLATION 123.115

DEDUCTION (TERTIARY EDUCATION) RULES

1st January, 2011

LEGAL NOTICE 427 of 2010.

(1) The title of these rules is the Deduction (Tertiary

Education) Rules.

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

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

(1) Where a deduction is claimed by an individual in terms

of article 14F of the Income Tax 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.