Cap. 402 Art. 3Charge of special tax.

Subject to the provisions of this Act, a special tax shall be payable at the rate of fifteen per centum upon the profits of a commercial bank accruing in or derived from Malta or elsewhere and whether received in Malta or elsewhere in respect of the tax year: Provided that where a commercial bank operates in Malta only as a branch of a foreign bank, then for the purposes of this section, profits shall be deemed to be the profits of the commercial bank properly attributable to the operations of the branch or branches in Malta.