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An Information Session held recently by Belair Property – in collaboration with Mazars Malta – for owners who rent out their property was oversubscribed to the extent that another session will be held in the near future to address the huge interest registered in the event.
The Information Session – for which attendance was free – covered various topics of relevance for these owners and addressed issues such as taxation and licensing when renting out property. The session acted as a tutorial for those present with real life examples of different scenarios, such as when is Value Added Tax (VAT) to be levied and at what rate, the available options of how one is to declare income, the intricacies of licensing by the Malta Tourism Authority when renting out to non-residents, as well as recent changes introduced to the Capital Gains Tax.
Commenting after the event, Belair Property Managing Director, Ian Casolani said that the idea of this Information Session came about as part of the feedback their Letting Team gets from property owners. “Undoubtedly, one can get lost in the myriad of administrative processes, and we felt we should give added value to our clients by providing a free Information Session on these subjects. The team at Mazars did an excellent job and the lengthy question time after the session proved that there was need for such an event!” added Mr Casolani.
Mazars Malta Partner Paul Giglio commented that “Such a collaboration makes it possible and convenient for end-customers to receive practical and accurate information by professionals, particularly from a fiscal, financial and regulatory perspective, which could help them make the right decisions for their business and ensure awareness of their fiscal obligations.”
Following the impressive feedback and success of this Information Session, Belair Property and Mazars Malta will be holding a Repeat Session in the near future. All those interested are to register by sending an email to email@example.com book a place as seating is limited.