S.L. 233.11 ст. 13Registration fee.

(1) The issue of a Registration Certificate is subject to the payment by the applicant of a registration fee payable to the

Government.

(2) Such registration fee is equivalent to:

(a) in the case of immovable property, seven and one half per centum of the original cost on date of purchase of the registered asset;

(b) in the case of an eligible asset to which the proviso to regulation 6 applies, seven and one half per centum of the current market value of the registered asset;

(c) in the case of all other eligible assets, seven and one half per centum of the current market value of the registered eligible assets: Provided that in the event that the applicant can provide documentary evidence that the acquisition cost exceeded the current market price, the applicable registration fee shall be charged on such acquisition cost:

Provided also that in respect of eligible assets referred to in paragraphs (a) and (c) which were held abroad on 4 November 2013 and are still held abroad on date of registration, a rate of five per centum shall be charged where the applicant makes an irrevocable commitment to repatriate the relative proceeds within two weeks after date of registration and to invest such funds in locally listed securities or in deposits with domestic banks, subject that the applicant shall provide to the registration agent within three weeks from date of registration documentary evidence of such repatriation and local investment, and that the repatriated assets will be retained locally for at least three years after date of registration:

Provided further that in the case where the eligible asset consists of shares in the capital of a company registered or incorporated in Malta or in a reputable jurisdiction outside Malta which does not own any asset other than immovable property or where more than ninety five percent of its assets consist of immovable property, the current market value of the company shall be reduced by the excess of the current market value of the immovable property, upon which the current market value of the shares was determined, over the original cost on date of purchase of the said immovable property owned by the company. Where in the case of a company referred to in regulation 2(2)(b)(iv), the eligible asset is an immovable property forming part of the assets of a company which does not own any asset other than immovable property or where more than ninety five per cent of its assets consist of immovable property, reference shall be made to the original cost of the immovable at the date of purchase. In the case of all other eligible assets owned by such company reference shall be made to the current market value of the eligible assets, including when the eligible assets are themselves shares within sub-paragraph 2(2)(b)(iv), and no reference shall be made to the current market value of the shares in the company itself. Furthermore, no reference shall be made to any accounts of the company (unless the applicant is able to provide to the satisfaction of the Commissioner audited accounts by a reputable audit firm) or to any liabilities, any reserves, shareholder loans or advances: Provided further that, in respect of eligible assets referred to in paragraphs (a) and (c) which have been subject to a registration fee of five per centum, where the beneficial owner of the eligible asset and in whose name or for whose benefit a Registration Certificate has been issued pursuant to these regulations does not retain the repatriated assets locally for a period of three years after the date of registration, he shall be considered as never having been entitled to the exemptions referred to in article 9B of the Income Tax Act, and shall forfeit the right not to refund any benefit, exemption or advantage acquired before the registration.

(3) The current market value is calculated on the basis of a valuation by a duly qualified person made within three months preceding the date of registration and presented to the appointed registration agent.

(4) The registration fees paid by registered applicants are to be remitted by the appointed registration agent to the Government at a designated account at the Central Bank of Malta by not later than seven days after the end of the month during which the fees are collected.

(5) The appointed registration agent shall issue a receipt, which is an integral part of the Registration form, to the applicant in respect of the registration fee paid.