News

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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02
Jun, 2016

ACT 2016 ANNUAL DAY CONFERENCE

ACT is pleased to announce that it will be organizing an annual day conference for all its members of staff.  The event will be held on Monday 4th July 2016 at The Westin Dragonara Reso ...

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01
Jun, 2016

Qualifying Employment in Aviation (Personal Tax) Rules

By means of Legal Notice 177 of 2016,  the Authority for Transport in Malta has been designated as the authority responsible for determining the eligibility or otherwise of an individua ...

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01
Jun, 2016

Malta Residence and Visa Programme (MRVP) Submission of Applications

Identity Malta, which is the Government entity entrusted with the processing of the MRVP applications has started to accept applications as from Monday the 23rd of May 2016. The MRVP rules ...

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13
May, 2016

ACT expands its services in the CIS region

ACT is pleased to announce that it has entered into a collaboration agreement with Malta VIP Limited to establish ACT MaltaVIP Limited.  The purpose of this collaboration is for the new ...

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12
May, 2016

OECD releases discussion draft on the treaty residence of pension funds

Earlier on this year, the OECD published a discussion draft that includes proposals for changes to the OECD Model Tax Convention concerning the treaty residence of pension funds.  The d ...

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12
May, 2016

EC proposes public CbC tax transparency rules for MNEs

The European Commission has last month introduced a proposal to amend the Accounting Directive (Directive 2013/34/EU) in order to create public country-by-country tax transparency rules for ...

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09
May, 2016

Tax incentives applicable to donations to Culture

In order to foster further partnership between Malta’s corporate and cultural sectors, the Maltese Government has recently announced some amendments to the tax incentives applicable to ...

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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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