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By virtue of Legal Notice 163 of 2018 published on 22nd May 2018, the Minister for Finance has announced regulations which amend the small undertakings thresholds in Part One of the Sixth Schedule to the Malta VAT Act. Under the new regulations, which come into force on 1st July 2018, the entry and exit thresholds for economic activities falling under column C of the Table will be increased to €20,000 and €17,000 respectively. The thresholds shall expire, unless renewed, by the 31st of December 2020. The legal notice implements a measure announced by the Minister for Finance in the 2018 Budget speech.

Upon the coming into force of the thresholds as amended, taxable persons who are already registered as small undertakings under Article 11 of the VATA, shall take into consideration the new entry threshold when calculating whether they are eligible to remain as small undertakings in terms of Item 3 of Part One of the Sixth Schedule to the VATA.

In a similar way, taxable persons registered under Article 10 should take note of the new exit threshold if they intend to re-apply for registration as a small undertaking after the prescribed mandatory thirty six month Article 10 registration period expires.

Taxable persons who are applying for a new VAT registration number and who qualify as a small undertaking should also note the increase in the entry threshold.

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