The European Parliament’s Economic and Monetary Committee has given its backing to new European Commission proposals that would bring the EU closer to the creation of a harmonised corporate tax system.
Read MoreIn a State visit to Bulgaria, the President of Malta Marie Louise Coleiro Preca underlined the importance of Malta and Bulgaria as strategic bridges in the Mediterranean Sea and the Western Balkans respectively for both culture and economy. Trade links between Malta and Bulgaria in best interests of citizens of both countries While delivering the…
Read MoreMalta has moved a step closer to introducing legislation to regulate the use of virtual currencies such as bitcoin, following the publication by the Malta Financial Services Authority (MFSA) of a regulatory framework covering collective investment schemes and the risks associated with virtual currencies.
Read MoreThe European Commission has recently issued a legislative proposal for changes in the current VAT regime that will be submitted to the European Parliament and European Economic and Social Committee for consultation and the Council for adoption. The proposed changes aim to a simpler, more flexible and more attractive to small companies, tax environment and…
Read MoreOn 9th January, the first high-level meeting of the EU Clean Energy Industrial Competitiveness and Innovation Forum took place in Brussels. EU Launches Clean Energy Initiative The EU announced the ‘Clean Energy for All Europeans’ package, in terms of the Commission’s initiative to help EU industry take advantage of the growth opportunities arising as part…
Read MoreAs of 1st January 2018 the provisions of Directive on Administrative Cooperation (Directive 2011/16/EU) entered into force, according to which national tax authorities have direct access to information on beneficial owners of companies, trusts and other entities, as well as customer due diligence records of companies. It is anticipated that access to these data collected…
Read MoreAs of 1st January 2018, according to EU Regulation on monitoring, reporting and verification of carbon dioxide emissions from maritime transport (Regulation No. 757/2015 as amended) ships over 5000 gross tonnage (“relevant ships”), regardless of their flag and subject to a few exclusions (warships, naval auxiliaries, fish catching etc.), will become subject to monitoring and…
Read MoreFollowing an in-depth examination of the Maltese tonnage tax scheme, the EU Commission has conditionally approved under EU State Aid rules the Maltese tonnage tax scheme for a period of 10 years. The scheme will ensure a level playing field between Maltese and other European shipping companies, and will encourage ship registration in Europe. Malta…
Read MoreThe “Tony de Brum” declaration, signed by 35 countries including among others the UK, France, Denmark, Germany, Canada, Malta and Greece in terms of the first One Planet Summit, aimed at adopting the first strategy for reducing greenhouse gas emissions from ships by 2018 and a revised strategy by 2023. These currently account for 3%…
Read MoreLate last week, the Finance Ministers of EU member states agreed on a list of 17 countries which according to the EU have failed to meet agreed tax good governance standards. These countries are all non-EU member states and are the following: American Samoa, Bahrain, Barbados, Grenada, Guam, Korea (Republic of), Macao SAR, Marshall Islands,…
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