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...
We would like to draw your attention to the Government Notice setting out guidelines for the application of compromise arrangements (in lieu of criminal prosecution) in terms of the VAT Act....
The Institute of Financial Services Practitioners offers the Government expert advice during times of national opportunity or crisis The Institute of Financial Services Practitioners (IFSP) called a Members’ Update meeting last week to discuss the impact on Malta’s financial services industry of the country’s greylisting by...
The MFSA’s Rulebook for CSPs is now firmly in place, and has brought about changes to the way CSPs operate, all in the interests of safeguarding the quality of the service Malta-based practitioners offer. The IFSP’s course is intended to provide practitioners in the CSP area...
The Malta Institute of Taxation and the Institute of Financial Services Practitioners have considered the provisions and implications of the Exemption from Tax on Property Transfers (Set-off of Tax Arrears) Rules, S.L. 123.202 (the ‘Rules’) and are of the view that the Rules are not...
The Financial Intelligence Analysis Unit (FIAU) would like to bring to the attention of subject persons operating within the Virtual Financial Asset (VFA) sector and those dealing with the same, that following the first publication in 2019, the Financial Action Task Force (FATF) has updated...
Economy and finance ministers today adopted a Council implementing decision on the approval of the recovery and resilience plan for Malta. The decision is the final step for Malta in accessing the EU’s recovery fund. Malta’s national plan feeds into the overall objective of the Recovery...