Year of Assessment 2022 Tax Returns for Companies

Year of Assessment 2022 Tax Returns for Companies - Update

The Commissioner for Tax and Customs notifies that the facility to submit the income tax return for Year of Assessment 2022 is now available on our online services.

The Commissioner for Tax and Customs also notifies that a new version of the YA2022 company tax return (version 1.2) was made available on the portal. Version 1.2 of the return has corrected the following validation errors:

TRA 88 –Due to Covid-19, companies had the option to apply for an extension of certificate validity for Micro Invest tax credits expiring in years of assessment 2021, 2022 and 2023. In this regard, the validation in this TRA was amended to reflect the extension granted by Malta Enterprise.
TRA 124 – In this TRA, a company is required to disclose any income or capital gains arising outside Malta falling under sub-paragraphs (i) and (ii) of the proviso to Art 4(1) of the Income Tax Act. With respect to income arising outside Malta, if the income is fully remitted to Malta, the company is still required to complete this TRA, listing ‘zero (0)’ in column F. The validation, which previously required a company to insert only positive amounts, was amended to allow the inputting of any amount greater or equal to zero.

Kindly note that where such validations did not apply, the previous versions of the tax return (versions 1.0 and 1.1) may still be completed and submitted successfully.