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Tax Update: Tax Credit for Construction Waste Recycling

Kristine Attard and Dr John Caruana  -  8/May/2020

By virtue of Legal Notice 179 of 2020, Malta has implemented another tax incentive which takes the form of a tax credit for construction waste recycling. A licenced individual who accepts construction and demolition material from third parties in his quarries throughout the years 2020-2024 at a fee not exceeding €12 per tonne may now claim a tax credit equivalent to 5% of the gross fees paid to him for the acceptance of the said material. Notably, this tax credit cannot, however, exceed the tax chargeable on the income derived by the said licenced individual during that year from the provision of those services.

By virtue of Legal Notice 218 of 2020, the construction waste recycling incentive has recently been amended wherein the tax incentive is no longer classified as a tax credit.  A licenced individual who accepts construction and demolition material from third parties in his quarries throughout the years 2020-2024 at a fee not exceeding €12 per tonne shall now be charged to tax at 5% of the gross fees paid to him for the acceptance to the said material.

Should you have any queries as to how and whether this tax incentive applies for you, please do not hesitate to contact us accordingly. We are happy to help.
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