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...
Following Moody’s affirmation of Malta’s A3 government bond rating, international credit rating Fitch has confirmed Malta’s rating at A+. Fitch described Malta’s outlook as stable. In its reaction, the Government said that this confirmed Malta’s achievements in reaching its financial targets and is an important message of stability for investors and for those looking at...
According to the annual Competitiveness Report, published by the World Economic Forum, Malta has climbed four places up to 47th in the Global Competitiveness Index. The report support Malta’s efforts to attract more foreign direct investment, which is a crucial driver of economic growth and job creation. The report highlighted the fact that the Maltese educational...
In a statement released by the rating agency on 5 September 2012, Moody’s Investors Service confirmed Malta’s A3 government bond rating. While the outlook remains negative, Moody’s said that the key drivers for the affirmation were the Maltese government’s successful consolidation strategy, which brought the 2011 fiscal imbalance below the 3% of GDP ceiling under...
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