Financial Action Task Force assessors are in Malta to meet with government officials before deciding whether to take the island off its so-called grey list of untrustworthy jurisdictions. A panel of experts from the FATF arrived in Malta to carry out an onsite assessment of the...
The Financial Intelligence Analysis Unit (FIAU) is issuing the following communication to subject persons to provide details on Company Service Providers and the thematic review of 2021 to assess their level of compliance with beneficial ownership obligations. Read More ...
The 2022 IFSP Conference will feature speakers from the political sphere, the MFSA, MBR and FIAU, and across Malta’s financial services industry. The Institute of Financial Services Practitioners (IFSP) is soon to host its 2022 annual conference, with an impressive line-up of keynote speakers. An essential annual...
As you are no doubt aware the situation in Ukraine is indeed a dire one. Over 2.5 million refugees have fled the country and this number is expected to increase significantly in the immediate future. A number of business and professional organisations, including IFSP, have embarked...
The Financial Action Task Force (FATF) has made the 'initial determination' that Malta has 'substantially' completed its action plan, and an on-site visit is expected to verify the implementation of reforms. Malta is currently on the FATF's grey list. The country was grey-listed by the FATF...
The current situation in Ukraine has once more brought to the fore the importance of ensuring that all subject persons adhere to their obligations arising from the National Interest (Enabling Powers) Act and from the Prevention of Money Laundering and Funding of Terrorism Regulations, as...
On 22 December 2021, the European Commission published proposals concerning shell companies and minimum substance requirements. The proposal as currently drafted is likely to have a material impact across the European Union, as well as on Malta’s corporate and financial services industry and, potentially, the...
Government considers 15% minimum tax rate a key concern Malta is lobbying for a two-year extension on the introduction of a new minimum corporate tax rate which, if introduced, would seriously reduce the island’s attractiveness to foreign investors Government sources said that talks were also being held...
The Commissioner for Revenue would like to notify that further to its communication dated 29th November 2021 being the online extension deadline for the year of assessment 2021 income tax returns, any penalties incurred for the year of assessment 2021 income tax returns which were...
As president of the Institute of Financial Services Practitioners (IFSP), Tonio Zarb outlines the challenges Malta’s financial services industry is facing due to the FATF greylisting – and maps the way forward for the sector and beyond. For IFSP president Tonio Zarb, Malta’s financial services sector is currently at a...