Domestic and international VAT advisory.
Whether you are looking to reduce costs or use VAT to achieve competitive advantage, we provide you with the tax technical insights and skills you need to realise your most important business ambitions. We can help in establishing your company's VAT status, development and execution of effective indirect tax management strategies including internal controls, advising on the indirect tax consequences of entering new markets and undertaking corporate transactions such as global restructuring, mergers, acquisitions and capital reconstructions, provide relevant advice on the VAT treatment of particular transactions, conducting diagnostic and analytical reviews of your VAT practices, maximising VAT recovery, VAT cashflow management and compliance processes review.
VAT compliance.
With the new VAT place of supply rules effective as from 1 January 2010 the compliance obligations of taxpayers have altered and increased. This is just one of the changes passed through our VAT law recently which brought about a change to the format of the VAT return and the requirement to submit additional prescribed VAT forms. How aware are you of these changes? Whereas on the one hand less than excellent house-keeping can result in penalties, damaged reputation and missed opportunities, on the other hand it is a challenge to retain excellent standards of compliance. In order to help taxpayers in meeting this challenge, KPMG provides services such as assistance with VAT registration, preparation and submission of VAT returns, recapitulative statements, intrastat and other VAT forms, refund applications, computation of partial attribution, reporting and assistance with adjusting VAT returns. We also assist taxpayers in filing objections and appeals, liaise with the VAT Department on such matters and support taxpayers in the course of tax audits or other investigations by tax authorities.
Duty on documents and transfers.
Malta adopts a system of imposing duty on particular documents including certain policies of insurance and transfers of particular assets such as immovable property and securities whether on death or otherwise. We provide advice on structuring transfers of property in the most cost-effective manner and on your eligibility to duty exemptions. We also offer guidance on all aspects of duty including preparation of valuations of property for duty purposes and documentation required by the Inland Revenue Department to affect such transfers in a duty-compliant manner.
Customs, excise and international trade. International trade is a risk laden environment. With particular relevance to the retail and manufacturing industries, the trend is to focus closely on the international supply chain with a view to minimising cost. Customs and excise duties and related expenses tend to have direct impact on the bottom line for organisations. Regulation in this field is highly specialised and interacts heavily with cross-border jurisdictions’ legislations. We provide our clients advice on the opportunities created in duty planning, consulting on international trade, conducting reviews of duty systems in place, assisting in the reclamation of duties overpaid and in meeting the reporting obligations.