Malta's Commissioner for Revenue recently issued a Group Deductions Guidance Note concerning an option for companies to surrender unutilized or unabsorbed capital allowances specifically incurred during the basis years 2020 and 2021 to other companies within the same group with chargeable income in 2021, subject to a EUR 1 million per group cap. The group deduction is intended to assist in recovery from the effects of the COVID-19 pandemic. --- GROUP DEDUCTIONS GUIDANCE NOTE 1.0 Introduction & Scope The measure being introduced allows for an optional deduction, whereby companies may opt to surrender unutilized or unabsorbed capital allowances specifically incurred...