What has changed?
The Office of the Commissioner for Revenue (CFR) together with the National Statistics Office, is reminding taxpayers of their obligations to file Supplementary Information Declarations - commonly referred to as Intrastat Declarations. Moreover, defaulting taxpayers are being requested to submit missing Intrastat Declarations so as to regularise their position.
What is an Intrastat Declaration and when is this required to be filed?
An Intrastat Declaration is a report outlining transport of goods between two EU Member States that must be submitted by relevant persons in terms of Subsidiary Legislation 406.18. Relevant persons include all taxable persons, for example businesses, and non-taxable legal persons, for example holding companies, that move goods between Malta and another EU Member State.
Relevant persons are obliged to file an Intrastat Declaration in Malta within 10 days of the reference month, outlining the goods being traded or moved. The Intrastat Declaration caters for both supplies (dispatches) and acquisitions (arrivals) of goods from/into Malta to another EU Member State. It also caters for the movement of goods which do not change ownership and the term goods includes goods which are not deemed to be stock in trade. Therefore relevant persons are obliged to report both arrivals and dispatches of such goods within the stipulated time frame. No Intrastat Declarations need to be filed in respect of any cross border transactions in services.
An exemption from the filing of Intrastat Declarations applies in case of relevant persons who dispatch and/or receive goods transported from Malta to another EU Member State and/or vice versa, where the value of such goods does not exceed €700 in a calendar year.
What are the implications of non-submission of Intrastat Declarations?
Persons failing to file Intrastat Declarations in a timely manner could be subject to criminal prosecution. On conviction of a criminal offense pursuant to such prosecution, subject persons are liable to a fine of between €700 and €3,500.
How can we help?
PwC can assist with:
Advising on the Intrastat obligations that may be applicable to your organisation;
Assistance with the registration for Intrastat purposes;
Regularising the current Intrastat position by submitting outstanding Intrastat Declarations;
Assistance with implementation of the necessary procedures to ensure timely and correct submission of Intrastat Declarations.
Support throughout the whole process of the cross border logistical movement of your organisation’s assets.
Should you have queries on whether you are required to file Intrastat Declarations, or should you require our assistance with the regularisation of your position, feel free to get in touch or reach directly to you usual PwC contact accordingly.
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