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...
The European Commission has approved a €215 million Maltese wage subsidies scheme to support companies operating in the sectors affected by the coronavirus outbreak, the commission said in a statement. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020,...
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 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...
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...
The Maltese Presidency of the Council of the European Union has sealed another agreement in the Economic and Financial Affairs Council (ECOFIN) on cash entering or leaving the European Union. The regulation is aimed at improving the current system of controls, with the objective to...
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...
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...
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...