Malta and the Principality of Liechtenstein have signed a ‘Treaty for the Elimination of Double Taxation’ in New York on 27 September 2013. The treaty is based on the OECD Model Convention and relates to taxes on income, on capital and on funds. The treaty delves into clarifying and governing the entitlement to tax treaty...
The ‘Agreement for the Avoidance of Double Taxation and the Prevention of Tax Evasion with respect to Taxes on Income’ signed between Malta and the Republic of Turkey in 2011 will come into effect on 1 January, 2014. The DTA sets out a 10% withholding tax on dividends paid by a Turkish resident company to a Maltese company...
David Zahra, founding partner at David Zahra & Associates Advocates, is now able to represent the firm’s clients for the purposes of applications to qualify under the ‘High Net Worth Individuals – EU/EEA/Swiss Nationals Rules’, the ‘Malta Retirement Programme Rules, 2012’ and the ‘Global Residence Programme Rules, 2013’. David Zahra is now able to serve...
Malta and Ukraine formally signed a Convention on avoiding double taxation in Kiev on 4 September 2013. The Prime Minister of Malta and the President of Ukraine signed the agreement as part of a working visit discussing a range of issues including trade exchanges, investment and energy. The Government of Malta stated that the signing of this...
Malta and Macau have recently signed an agreement to work together to prevent tax evasion and tax avoidance. The agreement was signed in Beijing, China on 30 May 2013 and is expected to enter into force in January 2014. In terms of the treaty, authorities in Macau and Malta will share data on the financial position and...
The Government of Malta has published Legal Notice 167 of 2013 which contains the rules governing the Global Residence Programme, a new residence programme which allows non-EU residents who buy high-value property and pay taxes in Malta to benefit from a residence permit. Click here to access the relevant legal notice and here to read about the programme’s launch.
The Government of Malta has recently issued Legal Notice 152 of 2013 which brings into force amendments to the Highly Qualified Persons Rules. These amendments shall be deemed to have come into force on 1 January, 2012. The Highly Qualified Person Rules apply a beneficial tax rate of 15%, on employment income derived in respect of work or...
The Government of Malta has launched the Global Residence Programme, a new residence programme for foreigners. This programme is intended to replace the High Net Worth Individuals (HNWI) Rules launched in September 2011. The Global Residence Programme shall reduce the minimum value of immovable property bought in Malta by foreigners to €275,000 (from €400,000). Moreover,...
Malta and the Russian Federation have signed an ‘Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income, and a related Protocol’. The agreement was signed on 24 April 2013 at the Ministry of Finance of the Russian Federation in Moscow. In a statement, the Government of...
The agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income signed by the Government of Malta and the Government of Guernsey on 12 March 2012 will enter into force on 10 March 2013. The treaty generally applies from 1 January 2014.
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