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EU to beef up scrutiny of money-laundering risks, adds Panama to list

The European Commission aims to intensify its scrutiny of states posing money-laundering risks, and is looking into creating a new body to help police financial crime and monitor banks more strictly, draft documents seen by Reuters show.   One document, expected to be published on Thursday, adds...

EU Consults on Tax

The European Commission issued an inception impact assessment on its action plan to fight tax evasion and simplify taxation. The information is also available on a PDF document. This is the first step in a roadmap which will lead to an upcoming strategy planned for...

The UK and EU agree terms for Brexit transition period

The UK and EU have agreed on a "large part" of the agreement that will lead to the "orderly withdrawal" of the UK.   Negotiators Michel Barnier and David Davis said the deal on what the UK calls the implementation period was a "decisive step" in the...

Safer Banking

It was exactly three years ago that the European Central Bank assumed joint supervisory responsibility with local regulators of large and systemically important banks in the Eurozone. Malta’s larger banks are now regulated and supervised directly by the ECB and the Malta Financial Services Authority.   There...

EU sees positive future for Malta’s economy

Growth is expected to remain well above the EU average   Malta’s economic growth has settled down from the exceptional levels of 2014 and 2015 but is forecast to remain well above the EU average, the European Commission said in its winter forecasts today.   It said unemployment is...

Malta supports the EU VAT Action Plan

While delivering a speech at the Malta Institute of Management’s ‘VAT and EU Conference’, Minister for Finance, Prof. Edward Scicluna stated that the VAT system can be improved on account of its shortcomings in three particular areas.   Minister Scicluna retained that today, VAT is not responsive...

Brexit court defeat for UK government

Parliament must vote on whether the UK can start the process of leaving the EU, the High Court has ruled. This means the government cannot trigger Article 50 of the Lisbon Treaty - beginning formal discussions with the EU - on its own.   Theresa May says the...

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