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ARTICLE · 13 AUGUST 2020

Updates To The FSS Forms

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Following an announcement by the Commissioner for Revenue ("CfR") on the 10th of August 2020, taxpayers have been notified that the FSS forms have been updated to align such with the changes

MaltaEmployment and HR
Donald Vella
Donald Vella
Kirsten Debono Huskinson
Kirsten Debono Huskinson
Gabriella Chircop
Gabriella Chircop
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Following an announcement by the Commissioner for Revenue (“CfR”) on the 10th of August 2020, taxpayers have been notified that the FSS forms have been updated to align such with the changes brought about by the Tax on Overtime Rules and the Covid19 Wage Supplement.

Tax on Overtime

By way of background, qualifying overtime income has been brought within the purview of Maltese income tax through the Budget Measures Implementation Act 2020. The Tax on Overtime Rules, 2020 were subsequently published through L.N. 245 of 2020 and further set out the rules governing the application of this tax on overtime.

In terms of the above-mentioned legislative changes, the first 100 hours of income qualifying as overtime time, will be subject to tax at the reduced rate of 15%. Such tax shall be final and shall not be available as a credit, set-off or refund, unless the individual deriving qualifying income elects otherwise.

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