Malta as an international financial services centre of repute
Malta has over the past years managed to attract a considerable amount of investment on the basis of its legal and regulatory framework, lower costs of production and labour costs, effective taxation, geographical location and logistical support and the availability of professional services.
Malta is a well regulated jurisdiction, is a member of the European union and the Euro Zone and its laws are fully compliant with EU laws. Malta adopted the first EU Anti-Money laundering directive in 1994 and has always adhered to all relevant international agreements, both within and outside the European Union. Such agreements include those that provide for automatic exchange of information to promote tax transparency. Malta is also a jurisdiction that has consistently transposed EU legislation into domestic laws and has actively participated in all EU initiatives aimed at tax transparency including the recent Anti-Tax Avoidance Directive (ATAD), which is the European union’s response to BEPS. Malta has in fact, together with other Member States in the ECOFIN, approved ATAD 1 in June 2016 and during its Presidency acquired all Member States’ approval to ATAD 2 in February 2017.
Malta’s tax system is neither discriminatory nor harmful and is fully compliant with OECD’s principles. Malta is also an early adopter for CRS, FATCA and Country by Country Reporting and has fully committed itself to the BEPS project of the OECD, in its fight against tax evasion. Furthermore, its tax laws do not infringe the EU’s Four Freedoms and the principle of non-discrimination.
For further information, please contact one of the firm’s tax partners, Stephen Balzan on email@example.com or Elaine Camilleri on firstname.lastname@example.org. You may also visit our website www.act.com.mt.
Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria. For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on email@example.com.
This article contains general information only and is not intended to address the circumstances of any particular individual or entity. ACT, by means of this article is not rendering any accounting, business, financial, investment, legal, tax, or other professional advice or service. This article is not a substitute for such professional advice, nor should it be used as a basis for any decision or action that may affect your finances or your business. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Before making any decisions or before taking any action that may affect your finances or your business, you should consult a qualified professional adviser. ACT shall not be responsible for any loss whatsoever sustained by any person who relies on this article.
19th June 2017
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