Tag Archives: exemption

Malta: copyright royalty exemption now in force

Malta has brought into force the copyright exemption announced in the Budget last November. The Budget Measures Implementation Act (pdf – English version starts about 40 pages in) amended Article 12(1)(v) of the Income Tax Act to exempt royalties, advances and similar income derived from copyright (whether from a trade, investment or otherwise).

UK: HMRC Guidance on cross-border royalty payments updated

The EU Directive on Interest and Royalty payments between associated companies of different Member States (Council Directive 2003/49/EC) came into force on 1 January 2004 and is implemented as UK law by ss757-767 Income Tax (Trading and Other Income) Act 2005.

HMRC’s Guidance Note has now been brought up to date so that the list of types of companies which can claim under the Directive, and the list of taxes that the company (or permanent establishment) claiming exemption from UK income tax must be subject to in a Member State, take account of the twelve countries that have joined the EU in the last five years.
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