Joint Seminar on The Shell Companies Directive (ATAD 3)

Understanding its Impact on the Maltese Corporate and Financial Services Sector

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 broader economy. This session is intended to introduce participants to the policy objectives and structural mechanics of the directive, as well as to debate the general direction of travel of EU tax policy. If you are a director on, or an advisor to, a company that may be within the scope of the directive, then knowledge of the potential implications of this draft directive is considered to be essential as 2022 is already within the proposed lookback period.

This semnar is organised jointly by the IFSP, MIT and MIA. It has been assigned 2.5 hours of core CPE by the MIA.

What is to be discussed during the seminar

The political horizon: what are the prospects of the Directive becoming law, and when would it enter into force?

Overview of the structure of the Directive

The gateway criterion: what makes a company a reporting undertaking?

The minimum substance criteria

Tax effects of lacking minimum substance

Disclosure requirements

Expected interaction with Maltese law: case studies

Followed by a moderated panel discussion, with a Q&A session

Who will be speaking?

Speakers: Dr Rachel Zarb Cousin (Deloitte), Mr Christopher Bergedahl (Deloitte)

Panel Members:  Dr. Robert Attard (EY, Mr. John Ellul Sullivan (MIT/IFSP Representative), Mr. Mirko Rapa (MIA Representative); Dr Rachel Zarb Cousin (Deloitte), Mr Christopher Bergedahl (Deloitte)

Moderator:  Mr Nick Captur (Deloitte)

Please note that the link to the Zoom event will be supplied later.