News

22
Dec, 2017

New regulations for the prevention of money laundering

The Government  has on the 20th December 2017 published a new Legal Notice (LN 372 of 2017), which introduces the Prevention of Money Laundering and Funding of Terrorism Regulations, 20 ...

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21
Dec, 2017

Maltese tonnage tax scheme approved by the European Commission

The EC has conditionally approved under EU State aid rules the Maltese tonnage tax scheme for a period of 10 years. This scheme lays down a level playing field between shipping companies in ...

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11
Dec, 2017

EU Council approves the list of non-cooperative jurisdictions

On 5 December 2017, the Council of the European Union approved the list of non-cooperative jurisdictions for tax purposes.  Those appearing on the list failed to take meaningful action ...

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11
Dec, 2017

MGA issues call for interested parties to register their interest on DLT and/or ...

The Malta Gaming Authority (MGA) is continuously analysing ongoing developments in the fields of Distributed Ledger Technology (‘DLT’) and cryptocurrencies including their applic ...

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11
Dec, 2017

Double taxation agreement with Ukraine

The Government of Malta has just published the new agreement with Ukraine for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. With res ...

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11
Dec, 2017

Amendment to the 5th Schedule of the VAT Act

By virtue of LN 347 of 2017, item 2 of paragraph (2) of Part 5 of the 5th Schedule has been amended so that food which is served for consumption by any person in the same establishment, shal ...

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11
Dec, 2017

Tax deductions for donations made to the Malta Community Chest Fund (MCCF)

With effect from year of assessment 2015, a deduction against taxable income was introduced in respect of cash donations of not less than €2,000 made by companies to the Malta Community ...

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11
Dec, 2017

Notice of office closure

ACT would like to inform their esteemed clientele that their offices will be closed as follows during the festive season: From Friday 22nd December 2017 (afternoon) to Tuesday 2nd January 2 ...

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11
Dec, 2017

Stamp duty reduction on property acquired in Gozo

Persons who acquire residential property in Gozo by the end of 2018 will benefit from a reduction in stamp duty from 5% to 2% provided the promise of sale agreement is registered with the In ...

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04
Dec, 2017

EuropeFides to hold its AGM in Malta in January 2018

ACT are in their final preparations to host the Annual General Meeting of EuropeFides which will be held at the Westin Dragonara Resort St. Julian’s Malta on the 26th and 27th January ...

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04
Dec, 2017

New guidelines issued by the VAT Department to determine the taxable value of ga...

The VAT Department has on the 21st November 2017, issued new guidelines, on the determination of the taxable value of gambling and betting services, that fall within the scope of article 4 o ...

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04
Dec, 2017

New guidelines issued by the VAT Department on sporting facilities

The VAT Department has on the 28th November 2017, issued new guidelines with respect to the reduced rate of 7% on the use of sporting facilities.  The guidelines stipulate that as from ...

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01
Dec, 2017

Discussion paper by the MFSA on ICOs, virtual currencies and related service pro...

The Malta Financial Services Authority (MFSA) has published a discussion paper on initial coin offerings (ICOs), virtual currencies and related service providers. The MFSA has invited intere ...

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27
Nov, 2017

The General Data Protection Regulation (GDPR) Are you ready?

The GDPR is a new EU data protection law that will come into effect on the 25th May 2018 and will be replacing the current Directive (95/46/EC).  The aim of the GDPR is to protect citiz ...

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27
Nov, 2017

The General Data Protection Regulation (GDPR)

The GDPR is a new EU data protection law that will come into effect on the 25th May 2018 and will be replacing the current Directive (95/46/EC).  The aim of the GDPR is to protect citiz ...

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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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