News

03
Jul, 2019

New treaty with the Principality of Monaco

The Maltese Government has  published the tax treaty with the Principality of Monaco by means of Legal notice 70 of 2019. The tax treaty is modelled on the OECD model tax convention.&n ...

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24
Jun, 2019

ACT proud sponsors of an event celebrating Philippines Independence Day

ACT were the proud sponsors of an event organised by the Filipino Community in Malta celebrating the 121st Independence Day, held on Sunday the 16th June 2019 in Valletta.  Roger A. Str ...

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11
Jun, 2019

Changes to Malta’s participation exemption regime

The third proviso to Article 12(1)(u)(1) of the Income Tax Act, has been amended so that gains or profits derived by a company registered in Malta (the transferor company), arising on the tr ...

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10
Jun, 2019

Consolidated Group (Income Tax) Rules 2019

Malta has on the 31st May 2019, by means of Legal Notice 110 of 2019, introduced rules by virtue of which a parent company and its subsidiaries may elect to form one fiscal unit.  The R ...

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10
Jun, 2019

30th June 2019 – Three important deadlines

The 30th of June is fast approaching and this is the last day for filing of one’s own income tax return in respect of year of assessment 2019.  It is also the deadline for one to ...

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04
Jun, 2019

ACT participates at the Gozo Business Expo 2019

ACT was one of the exhibitors during the first Business Expo held in Gozo on Friday 31st May and Saturday 1st June 2019 at the Grand Hotel in Mgarr Gozo. Organised by MBR Publications in co ...

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10
May, 2019

Notice of office closure

Due to a staff event being organised on the occasion of our 5th anniversary, our offices will be closed on Monday 13th May 2019 between noon and 2pm.  For any urgent matters, please cal ...

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15
Mar, 2019

The MGA & the Swedish Gambling Authority enter into a MoU

The Malta Gaming Authority (MGA) and the Swedish Gambling Authority have recently entered into a Memorandum of Understanding (MoU) that will strengthen the cooperation between the two Author ...

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12
Mar, 2019

Controlled Foreign Company (CFC) rule under ATAD 1

By means of Legal Notice 411 of 2018, Malta has like all other EU Member States implemented the EU Anti-Tax Avoidance Directive.  The regulations will be applicable as from 1st January ...

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28
Feb, 2019

The transitory provisions in terms of A. 62 of the VFA Act as applicable to VFA ...

VFA Service Providers benefitting from the transitory provisions provided under Article 62 of the VFA Act shall, in so far as applicable, comply with the applicable Rules on a best efforts b ...

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28
Feb, 2019

MFSA publishes Chapter 3 of the VFA rule book

The MFSA has on the 25th February 2019 published Chapter 3 of the Virtual Financial Assets Rulebook: Virtual Financial Assets Rules for VFA Service Providers.  The publication of the r ...

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11
Feb, 2019

New Tax credits for hotels and restaurants

Malta Enterprise has announced a new scheme which is aimed at incentivising businesses to invest in the refurbishment of hotels and restaurants.  The incentive consists of tax credits w ...

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11
Feb, 2019

Changes in the deadline for submissions of Forms TA 22 and TA 24

The Commissioner for Revenue has announced that the deadline for the submission of Forms TA22 and TA24 has been changed to the 30th April 2019.  Thus self-employed persons carrying out ...

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06
Feb, 2019

MFSA issues document on AML and CFT strategy

On 4th February, the Malta Financial Services Authority issued a document outlining its strategic approach towards AML and CFT supervision, including its implementation of a National AML/CFT ...

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06
Feb, 2019

MFSA reveals ‘Vision 2021’

On the 31st of January 2019, the Malta Financial Services Authority (“MFSA”) revealed its strategy for the next three years in a public press conference. “Vision 2021&rdqu ...

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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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