FitchRatings (www.fitchratings.com) has confirmed that Malta does not face same bank system risks as Cyprus. Research it carried out showed that “while both Malta and Cyprus seemingly have large banking sectors that substantially exceed the size of their economies and that rely to some degree on funding from non-resident depositors, a closer examination reveals substantial...
Malta and the Republic of India have signed an agreement on the avoidance of double taxation and the prevention of fiscal evasion on income tax. The agreement was signed at a meeting between Indian External Affairs Minister Preneet Kaur and Foreign Affairs Minister George Vella on 8 April 2013 in Valletta, Malta. The signing of...
Following recent developments in Cyprus, the Government of Malta has issued the following statement confirming that Malta’s banking sector is ‘robust’ and ‘stable’. Malta joined the euro area in 2008 in order to further enhance its macroeconomic and financial stability, and to contribute to the stability of the euro area-wide economic and financial system. Together...
A new scheme by means of which companies that commission a digital game as a marketing tool to promote their products or services online are entitled to a tax credit equivalent to 100% of the total subcontracted costs incurred, up to a maximum of €15,000, has been launched by Malta Enterprise. The scheme will be...
The Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income between Malta and Israel has been ratified by both countries and the Convention’s provisions have now come into force. The Convention was signed on 28 July 2011.
The Government of Malta has recently launched a new national energy policy following wide consultation with all stakeholders. The policy is based on a series of objectives aimed at diversifying the energy mix used in Malta while accelerating a shift in the energy culture. The policy is based on five main principles: diversification, security of...
Malta has ratified the Council of Europe/OECD Convention on Mutual Administrative Assistance in Tax Matters. The Convention is a free-standing multilateral agreement designed to promote international co-operation for a better operation of national tax laws, while respecting the fundamental rights of taxpayers. The Convention provides for all possible forms of administrative co-operation between the parties in the...
The Lotteries and Gaming Authority (LGA) has entered into a Memorandum of Understanding (MOU) on bilateral co-operation with the Isle of Man’s Gambling Supervision Commission. The MoU highlights the jurisdictions’ common values and delves into various other matters. The LGA and the Isle of Man’s Gambling Supervision Commission are working towards developing common responsible gambling measures...
The 25th edition of the Internal Market Scoreboard, issued by the European Commission on 8 October 2012, places Malta first for the eighth consecutive time. The Internal Market Scoreboard is issued twice a year and benchmarks Member States’ efforts in the implementation of Internal Market Law by recording the transposition deficit, which is the gap between the...
Malta has announced the introduction of the Malta Retirement Programme, a new tax programme for retirees from EU/EEA/ Swiss nationals to take up residence in Malta. The applicable rate shall be a fixed rate of tax of 15% with a minimum tax liability of €7,500 onto which €500 must be added for a dependent. An...
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