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Malta’s new insolvency framework
Malta has in December of 2022 introduced a new insolvency framework by publishing two new sets of legislation namely ‘The Insolvency Practitioners Act’ and ‘The Pre-Insolvency Act’ while amending the Commercial Code. The aim of this is to provide a more reliable...
Tax deadlines for the month of February 2023
The following are the tax deadlines for this month. 15 February 2023 – Submission by employers of Forms FS 3 and 7 for the calendar year 2022 28 February 2023 – Submission by employers of Form FS5 for the month of January 2023 together with the relative payment of...
Amendments to the Exemption from Tax on Property Transfers (Set-off of Tax Arrears) Rules
The Government of Malta has by means of Legal Notice 9 of 2023 made a slight amendment to the above-mentioned rules which were originally published by means of Legal Notice 419 of 2021. The legal notice is applicable to any person who owes relevant tax arrears to the...
Deduction (income from Employment) Rules
The Government of Malta has by means of Legal Notice 4 of 2023 amended the Deduction (income from Employment) Rules. The revised rules shall be applicable as from year of assessment 2024. These rules apply to individuals (including any spouse where the responsible...
Tax deadlines for the month of January 2023
The following are the tax deadlines for this month. 31 January 2023 – Submission by employers of Form FS5 for the month of December 2022 together with the relative payment of FSS, national insurance and maternity fund contributions 31 January 2023 – Manual submission...
CFR CLARIFICATION ON ‘RECOGNISED STOCK EXCHANGES’
The Office of the CfR has in November 2022 issued a guidance note which clarifies which stock exchanges are to be recognised by the CfR for the purposes of the Income Tax Acts and the Duty on Documents and Transfers Act: These are: Stock exchanges that are...
Transfer Pricing Rules
By means of LN 284 of 2022, the Government of Malta has published the Transfer Pricing Rules, which will be effective as from 1st January 2024. For a summary of the main provisions of such rules, please read our article by visiting our website in the articles and...
FIAU publishes a new set of Implementing Procedures for Accountants and Auditors
The Financial Intelligence Analysis Unit (FIAU) has in December 2022, published a new set of Implementing Procedures – Part II, aimed at providing additional guidance to Accountants ad Auditors on their AML / CFT obligations arising from the Prevention of Money...
Open Beneficial Ownership Register Declared Invalid by the European Court of Justice (ECJ)
The ECJ has on the 22 November 2022 declared invalid the provision of the Fifth European Union Anti-Money Laundering Directive that requires EU countries to provide public access to beneficial ownership registers. In a ruling, the Court found that the 5th AMLD is...
TAX ADVISORY sERVICES
ACT is a well-known and respected boutique tax advisory firm providing high-quality tax advice to Multinational Enterprises, SMEs including family owned and other owner-manged companies, family offices, trusts, foundations, employees and high net worth individuals.
Corporate Taxation in Malta
Maltese companies are subject to tax at the rate of 35% on their worldwide income and capital gains. Malta grants various fiscal incentives to both companies and their shareholders upon the distribution of a dividend.
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.
Taking up Residence in Malta
Remote Gaming in Malta
Payment Institutions in Malta
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.