The right to equal pay between men and women for equal work or work of equal value has been a founding principle of the European Union since the Treaty of Rome in 1957. Despite the legal On the 8 August, 2014, the Minister for Finance issued The Residence Programme Rules, 2014 which replace The High Net...
The UCITS V Directive was published in the European Union’s Official Journal on 28 August 2014. The Directive addresses three main areas: (i) the duties, delegation, eligibility and liability of the depositary (bringing the UCITS framework in synch with the certain aspects of the Alternative Investment Fund Managers Directive); (ii) remuneration policies and practices of...
The Maltese Government is currently considering whether it should issue a sukuk (also known as an Islamic bond) to see what the reaction of the markets would be and to give a political message that this is the sort of instrument Malta is in favour of. This was confirmed in a recent interview with the Prime Minister of...
On 10 April 2014, Malta and the Republic of Moldova signed an Agreement on the Avoidance of Double Taxation. The Agreement on the Avoidance of Double Taxation, the first ever between the two jurisdictions, seeks to enhance bilateral trade and to increase investment. The main features of the Agreement on the Avoidance of Double Taxation are...
David Zahra & Associates Advocates has recently joined the Swiss-Maltese Chamber of Commerce. The Swiss-Maltese Chamber of Commerce was founded in 1999 and aims to foster economic and cultural ties as well as friendship between Switzerland and Malta. Click here to access the Chamber’s website.
The ‘Treaty for the Elimination of Double Taxation’ signed by Malta and the Principality of Liechtenstein on 27 September 2013 has entered into force on 1 July 2014 by Legal Notice 259 of 2014. The treaty is based on the OECD Model Convention and relates to taxes on income, on capital and on funds. The treaty...
The Government of Malta and the Government of the China have signed a 5-year Medium-Term Cooperation Plan which will take the already well established cooperation between the two countries to another level. This is the first formal Medium-Term Cooperation Plan that China signed with a European country. Pursuant to the Cooperation Plan, Malta and China...
Lamiafinanza.ch, an informative website for investors and savers, has published a second article on Islamic finance by David Zahra. The article, in Italian, gives an overview of the benefits of the screening of investments from a Shariah-compliance point of view and is the second from a series of articles which the website shall publish to generate...
We, at David Zahra & Associates Advocates, extend our best wishes to our Muslim friends on the beginning of the blessed month of Ramadan. Ramadan Kareem.
Malta is increasingly perceived as an attractive gateway for Islamic finance, a sector which currently sees an annual expansion rate of 15-20% and has an estimated value of $2 trillion as at 2014. Speaking at the latest educational clinic on Sharia-compliant funds organised by FinanceMalta on June 24thin collaboration with the Malta Funds Industry Association...
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