Mazars workshop provides practical insights into VAT legislation

Mazars Malta, a member firm of international audit and advisory group Mazars, recently organised the second of its 2018 series of information sessions branded Made Simple, by Mazars. The workshop, held at the Royal Malta Yacht Club, was aimed at giving practical insights into VAT legislation.

The objective of the Made Simple, by Mazars sessions is to make it possible and convenient for end-customers to receive practical information by professionals, particularly from a fiscal, financial and regulatory perspective, which can help them make the right decisions for their business and for their own personal well-being. This initiative is in line with Mazars Malta’s business advisory mission and its reputation as a provider of personal services and quality advice.

The Made Simple, by Mazars workshops are delivered by experts from within Mazars’ team and generally take on a very hands-on approach. This session was specifically targeted at directors and executives of owner-managed businesses.

Mazars Malta Tax partner Paul Giglio explained that during the workshop on VAT legislation “we provided an overview of myriad issues relating to VAT, including set-offs, cash accounting and deferral of VAT payments. During the workshop, we also discussed scenarios such as the transfer of a business as a going concern, adjustments relating to input tax on capital goods and switching VAT registration. Moreover, our experts provided practical insights into matters such as the small undertakings threshold, how to deal with VAT investigations, input VAT incurred on ‘blocked’ acquisitions and the option of monthly as against quarterly VAT periods.”