Non-EU nationals will be receiving their
VAT refund on items bought in
Malta in a more expeditious way, thanks to an agreement signed
on Monday, 30th January at the Ministry for Finance.
Through this agreement, international tax free shopping operator
Fintrax Group will be setting up an office under the brand Premier
Tax Free at Malta International Airport, in order to provide an
improved service. Currently, the processing of such refunds
involves a great deal of bureaucracy, whereby such processing is
currently taking over six months to complete.
Following the issuance of a legal notice in 2015, Fintrax Group
was selected following an international request for proposals.
Premier Tax Free will be vetting applications for and issuing
such refunds, marketing the scheme to non-residents and local
retail outlets, as well as providing a scheme to retailers to
participate in international marketing of the VAT Refund
Fintrax Group is one of the world's leading tax free
shopping companies with over 30 years' experience. Through
Premier Tax Free it provides refund services to international
shoppers via hundreds of refund points spanning across 31
Minister for Finance Edward Scicluna said that, "thanks to
this agreement, the government will be seeking to attract more
business to our retail outlets and continue in its drive to
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The Common Reporting Standard (CRS) has been initiated by the Organization for Economic Cooperation and Development (OECD) aiming at improving international tax compliance and preventing tax evasion, through the automatic exchange of information between the countries that implement CRS.
The DITC has stated that it will issue updated CRS Guidance Notes in the first quarter of 2017 to cover the Regulations.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).