News

12
Sep, 2016

ACT sets up a new office in Gozo

We are pleased to inform our esteemed clients that on 1st September 2016, ACT has set up a new office in Gozo. The new office is situated at Baron Court Block A, Karlu Galea Street Victoria ...

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09
Sep, 2016

ACT to participate in four events in the CIS region

Following the success ACT had in the CIS region with new clients for the Maltese Citizenship and Residence programs, ACT is pleased to announce that in collaboration with one of its sister c ...

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29
Aug, 2016

OECD releases discussion draft on branch mismatch structures

On the 22nd August 2016, the OECD released a discussion draft on branch mismatch structures (BEPS Action 2).  The report on BEPS Action 2 (Neutralising the Effects of Hybrids Mismatch A ...

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29
Aug, 2016

Commutation of Recognised Pensions

LN 262 of 2016 refers to the exemption from income tax applicable to the commutations of pensions.  Rule 3 of the said LN prescribes that the total amount of capital sum received by wa ...

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29
Aug, 2016

Amendments to the Pharmacy Of Your Choice (POYC) Rules

By means of LN 283 of 2016, the purview of the POYC rules will with effect from year of assessment 2017 be also applicable to any person carrying on a business through a pharmacy outlet who ...

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23
Aug, 2016

Double Taxation Agreement with Viet Nam published

By means of Legal Notice 286 of 2016, the Government of Malta has published the double taxation agreement for the avoidance of double taxation and the prevention of fiscal evasion with respe ...

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13
Jul, 2016

OECD releases a discussion draft on the Group Ratio Rule (BEPS Action 4)

On July 11, 2016, the OECD released a discussion draft on elements of the design and operation of the Group Ratio Rule with respect to interest deduction limitations. The final version of t ...

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11
Jul, 2016

EC issues new proposals on AML/CFT

The European commission (EC) has on the 5th July 2016 issued new proposals to amend the current framework in its fight against organized crime, corruption and tax evasion.  These propos ...

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08
Jul, 2016

OECD releases a discussion draft on BEPS Action 7

On July 4, 2016, the OECD released a discussion draft with respect to additional guidance on the attribution of profits to permanent establishments. Action 7 of the BEPS Action Plan (&ldquo ...

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04
Jul, 2016

OECD publishes additional guidance on CbC reporting

On the 29th of June, 2016, the OECD published a memorandum entitled ‘Guidance on the Implementation of Country-by-Country Reporting’. The OECD/G20 BEPS Project had set out 15 ke ...

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28
Jun, 2016

Seed Investment Scheme Rules

In June 2016, the Commissioner for Revenue has issued new rules to grant tax credits to natural persons investing in start-up businesses (hereinafter referred to as ‘qualifying investo ...

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16
Jun, 2016

New guidelines by the VAT department correction of errors

On the 25th April, the VAT Department issued a guideline that explains the changes in the way corrections of vat returns can be made by persons registered in terms of Article 10 of the VAT A ...

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13
Jun, 2016

EC publishes working paper on State aid and tax rulings

In June 2016, the EC published a working paper on State aid and tax rulings. The working paper provides a brief summary on the measures taken by the EC so far in respect of the tax ruling p ...

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06
Jun, 2016

Amendments to the Eco Contribution Act

As from 1st June 2016, eco-contribution is chargeable with respect to accommodation, whether provided for a consideration or otherwise, in any premises which, for the purpose of providing th ...

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06
Jun, 2016

Personal Tax Returns YA 2016

The Inland Revenue Department is currently submitting the personal income tax returns to individual taxpayers for basis year 2015 (year of assessment 2016). How we can assist? Our tax team ...

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Corporate Taxation
in Malta

Maltese companies are subject to tax at the rate of 35% on their world wide income and capital gains.   Malta grants various fiscal incentives to both companies and their shareholders upon distribution of a dividend.  Malta is a membe...

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Setting up a Company
in Malta

Setting up a company in Malta is a relatively straight forward procedure and can be set up within 2 working days, provided we are in receipt of all the information, funds and due diligence documentation we need. The Act that regulates Malte...

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Taking up Residence
in Malta

Warm climate, friendly people, excellent communication infrastructures, low criminality and many other features of the Maltese islands have made Malta an excellent destination for people to take up residence in. Moreover low rates of taxati...

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Remote Gaming
in Malta

Malta was the first EU Member State to specifically regulate the remote gaming industry in 2004 and has ever since established itself as one of the prime jurisdictions for remote gaming operators. The Malta Gaming Authority (“MGA”) is the regulatory of gaming in Malta. The success o...

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Payment Institutions
in Malta

Malta has become a destination of choice for the setting up of Payment Institutions (also referred to as Payment Services Providers or PSPs).  A number of advantages has contributed to this success, mainly but not limited to the fiscal incentives granted not only to the payment institutions ...

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Electronic Money Institutions
in Malta

Malta has recently seen an increase in the number of Electronic Money Institutions (EMIs) looking to set up their operations in Malta.  This has been largely due to the growth in the e-commerce and the i-gaming industries.  Such EMIs are regulated by the Financial Institutions Act and t...

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Initial Coin Offering (ICO) Services
in Malta

Malta has always been on the forefront of technology and innovation.  In the past months, a number of initiatives have been launched, aimed at establishing an innovative and attractive regulatory framework for entities operating in blockchain (and distributed ledger technologies), virtual cu...

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Prospects Services of a Corporate Advisor
in Malta

‘Prospects’ is a new platform set up by the Malta Stock Exchange in line with its commitment to open up new capital market opportunities, create economies of scale and to afford businesses more competitiveness and sustainability.  Through ‘Prospects’, SME’s wil...

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Assistance to Family Businesses
in Malta

Malta has recently introduced legislation to encourage good governance in the management of family businesses, to assist family businesses to operate their business in an efficient way and to assist such family businesses to transfer their business from one generation to the other.  Malta is...

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