Taxman wants ‘360-degree view’ with new integrated system

The finance ministry is seeking to introduce an integrated tax administration system that will give Malta’s taxman an “assured 360-degree view” of taxpayers.

The system will allow the Commissioner for Revenue to be able to extract data from all tax departments concerning taxpayers, as well as link it to data received from third-party sources.

The Commissioner for Revenue is responsible for the administration and collection of income tax, which includes capital gains and property tax, duty on transfers, VAT, and Customs and Excise duties, as well as social security contributions.

Under the new information system, all taxpayers’ data, documents and information will be linked together to ensure compliance, as well as being available to taxpayers themselves.

The IT system will allow the tax departments to analyse taxpayer relationships for all types of transactions, as well as initiate administrative procedures and log correspondence and documents in taxpayers’ electronic archives.

The system will register new taxpayers upon the birth of legal persons, reflecting changes from primary registers.

According to a preliminary market consultation for IT providers, the finance ministry says the Commissioner for Revenue is seeking ways of modernising Maltese tax administration by integrating all different tax types and supporting processes.

The Commissioner has various information systems, all accounting for various components of the tax regime. Instead, the integrated system will enable the collection of all revenue due, through full automation of tax administration processes, and real-time reporting of taxation transactions, as well as timely payment of tax refunds.