News

A new double tax treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed in London on the 12th March 2012 between the two Governments. The agreement is aimed at strengthening further trade relations that exists between the two countries. For more information about Malta’s tax...

A new double tax treaty for the avoidance of double taxation and the prevention of fiscal evasion between the Government of the Kingdom of Bahrain and the Government of Malta signed in 2010 entered into force on 28th February 2012. The agreement is aimed at facilitating trade exchanges and investment between the two countries For more infor...

The High Net-Worth Individuals Residency Scheme has been updated in virtue of Legal Notices 41 and 42 of 2012. The salient points of such amendments are being outlined hereunder. A qualifying contract with the Malta Government need not be entered into if a declaration is made in the application stating that the applicant does not intend to b...

VAT Amnesty Scheme - Remittance of Interest and Administrative Penalties During the Budget Speech, the Ministry of Finance launched a limited time-window VAT amnesty scheme with the aim of encouraging VAT registered taxpayers to regularise their position with the Department. Legal Notice 456 of 2011 enacted this scheme. The remiss...

The 2012 Malta Budget plan reveals a continuing commitment to the expansion of the digital games sector. The Government’s investment in the digital gaming industry will be carried out via the establishment of the Malta Games Fund, and by the introduction of a tax credit scheme, aimed at assisting Maltese companies wishing to commission educati...

The 2012 Malta budget was announced on the 14th of November 2011. Important tax provisions were introduced, in the light of boosting foreign investment on the island. The strengthening of social welfare was one of the underlying themes of the budget for the coming year, as was the maintenance of economic and financial stability during these ti...

A new tax treaty between Malta and China was signed on 23rd October 2010. The treaty entered into force on 25th August 2011 and replaced the agreement that was signed in 1993. It shall have effect with respect to income derived during the taxable years beginning on or after 1st January 2012 and provides, amongst other things, for lower withh...

Stephen Balzan and Dr. Jonathan De Giovanni, Partner and Advocate respectively within the firm’s international tax department attended a tax seminar which was held in London. The name of the seminar was 101 Corporate Tax Planning Ideas and was held on the 25th October 2011.

Stephen Balzan Tax Partner EMD has last week attended the 65th Congress of the International Fiscal Association held in Paris, France, on 11-16 September 2011. The IFA Congress’s main topics this year included very interesting issues such as Cross-Border Restructuring, CCCTB, Collective Investment Vehicles and Double Taxation. More information...