S.L. 123.212 Art. 7Administrative penalties. 22 [S.L.

(1) Where a constituent entity located in Malta or the designated local entity on its behalf fails to file the top-up tax information return with the Commissioner in terms of regulation 5(2) within the time stipulated in regulation 5(7)(a) it shall be liable to an administrative penalty of:

(a) two hundred euro (€200); and

(b) one hundred euro (€100) for every day during which the default existed:

Provided that this administrative penalty shall not exceed in total twenty thousand euro (€20,000).

(2) Where a constituent entity located in Malta or the designated local entity on its behalf fails to report the information required to be reported in terms of regulation 5(5) in a complete and accurate manner, it shall be liable to an administrative penalty of:

(a) two hundred euro (€200); and

(b) fifty euro (€50) for every day during which the default existed:

Provided that this administrative penalty shall not exceed in total five thousand euro (€5,000).

(3) Where a constituent entity located in Malta or the designated local entity on its behalf fails to notify the Commissioner of the identity of the entity that is filing the top-up tax information return as well as the jurisdiction in which it is located in terms of regulation 5(4) within the time stipulated in regulation 5(7)(b) it shall be liable to an administrative penalty of:

(a) two hundred euro (€200); and

(b) fifty euro (€50) for every day during which the default existed:

Provided that this administrative penalty shall not exceed in total five thousand euro (€5,000).

(4) Where the designated local entity fails to notify the Commissioner of the start of the initial phase of the MNE group’s international activity in terms of regulation 10(5) within the time TAXATION FOR MULTINATIONAL ENTERPRISE GROUPS 123.212 AND LARGE-SCALE DOMESTIC GROUPS

stipulated therein it shall be liable to an administrative penalty of:

(a) two hundred euro (€200); and

(b) fifty euro (€50) for every day during which the default existed:

Provided that this administrative penalty shall not exceed in total five thousand euro (€5,000).

Third Part Transition Rules