Malta News

The Remittance Basis of Taxation – New Guidelines
24.04.2019 | The Inland Revenue Department has issued guidelines on the Remittance Basis of Taxation for Individuals under the Income Tax Act, making reference to the minimum tax for persons who are ordinarily resident but not domiciled in Malta.
Malta VAT Exemption for Small Undertakings
12.06.2018 | Legal notice 163 of 2018 of the Laws of Malta, the ‘Value Added Tax Act (Amendment of Sixth Schedule) Regulations, 2018’, published on the 22nd of May 2018, enacts changes to the VAT Exemption for Small Undertakings thresholds. According to this legislation, any taxable person (individual or corporate) in terms of the VAT Act, whose…
Malta introduces VAT Grouping
01.06.2018 | As of 1st June 2018, operators of financial or gaming entities may opt to be treated as a single taxable person for VAT purposes. This has been made possible through the introduction of the new VAT Grouping Provisions published on 22nd May, by means of Legal Notice 162 of 2018. The Value Added Tax (Registration…
Malta leads the way in Blockchain, DLT and Cryptocurrency legislation
24.05.2018 | On the 23rd May 2018 the Virtual Financial Assets Act, the Innovative Technology Arrangements and Services Act and the Malta Digital Innovation Authority Act Bills were published and scheduled to be approved by Parliament, coming into force in a few weeks. The proposed legislations have distinguished Malta as the first EU Member State to draft…
Register of Ultimate Beneficial Ownership of Companies
18.01.2018 | The Maltese legislator has recently implemented the provisions of the ‘4th Anti-Money Laundering Directive’ (Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering of terrorist financing) relating to information about the beneficial owners…
Ecovis Malta launches GDPR advisory and technical services
18.12.2017 | Ecovis Malta is pleased to announce the launch of a new area of advisory services relating to the General Data Protection Regulation (‘GDPR’). With the deadline for compliance with the GDPR looming closer, organisations are requesting assistance with understanding what their obligations under this new Regulation are. Data protection laws affect all sorts of organisations,…
Malta Budget 2018
10.10.2017 | Yesterday evening, the Minister for Finance Professor Edward Scicluna addressed the nation from Parliament to announce the changes to be taking place within the next year. For those who missed the speech, these are the highlights from the 2018 Budget: General: No new taxes, as well as no increase in any tax, whether direct or…
Technology Advisors in Malta
Ecovis Malta adds Technology Advisory to its range of services
10.10.2017 | Ecovis Malta has announced the launch of Ecovis Technology Advisory, a range of services designed to help businesses raise the bar by leveraging the application of technology. Ecovis Technology Advisory will be offering organisations support and assistance in IT strategy, planning, risk management, infrastructure design and support, and training in various IT-related areas, amongst others.…
Malta Budget 2017- A Concise Summary Prepared by ECOVIS Malta
18.10.2016 | On 17th October 2016, the Honourable Minister for Finance, Edward Scicluna, presented the budget for 2017 at the House of Representatives in Valletta. The budget focused on integral national issues such as social welfare, sustainability and enterprise incentives and measures.
New Scheme for Highly Specialised Non-EU Individuals – Key Employee Initiative
14.10.2016 | Identity Malta has recently launched the Key Employee Initiative (“KEI”) targeted to non-EU individuals seeking employment in Malta. This scheme was purposely set up in order to facilitate the issuing of work/residence permits for prospective employees.
Malta – Launching of further assistance to SMEs
05.10.2016 | On 3rd October 2016, Parliamentary Secretary for the EU Presidency 2017 and EU Funds, Ian Borg announced the launch of two further schemes under the Business Enhance ERDF Grant Schemes initiative.
ECOVIS approved as Corporate Advisor for MSE’s Prospects platform
30.09.2016 | Balzan, Malta, September 30th 2016 ECOVIS GRC Limited, part of the ECOVIS Malta group, a firm specializing in accountancy, tax advisory, audit, legal and governance services, has been approved to act as a Corporate Advisor for companies listing securities on the Malta Stock Exchange’s ‘Prospects’ market.
Malta Aviation Industry
Malta Aviation Industry
22.07.2016 | Qualifying Employment – Personal Tax Rules 2016 The aviation sector in Malta has become a significant player in the local economy, in fact, in 2014 this sector accounted for 3.4% of the total workforce. Pursuant to the substantial growth in the Malta aviation industry the legislator enacted the ‘Qualifying Employment in Aviation (Personal Tax) Rules’…
Business Enhance ERDF Grant Schemes
16.07.2016 | The Business Enhance Grant Schemes, with a budget of €51 million from the European Regional Development Fund 2014 – 2020, is an initiative that seeks to support enterprises through a number of aid schemes in the form of non-repayable grants. The scheme is open to investment projects
Malta: Personal Income Tax Returns 2015
06.06.2016 | The Inland Revenue Department is currently sending out the tax returns for basis year 2015 to individuals’ resident in Malta. The tax return must be submitted together with payment by 30th June 2016 in order to avoid fines and penalties. A number of areas of interest have been highlighted hereunder: Employment income is to be…
Micro Invest 2015
22.02.2016 | Do not miss the opportunity to obtain a tax credit on expenses incurred in 2015! Micro Invest applications are currently open for qualifying expenses incurred during 2015.
Assistance for Small and Medium Enterprises [SME]
21.02.2016 | Bank of Valletta has recently announced the launch of a financing initiative, targeted to SMEs. BOV JAIME, which stands for Joint Assistance Initiative for Maltese Enterprises
New Schemes announced in the Malta Budget Speech 2016
22.10.2015 | The Maltese Government has announced the introduction of a number of new schemes which will be launched by the Malta Enterprise in 2016.
Malta Budget 2016
14.10.2015 | Concise summary prepared by ECOVIS Malta 12th October 2015
New Property Tax in Malta
17.04.2015 | With effect from 1st January 2015, the Capital Gains Tax system on immovable property will be fully replaced by the Tax on Property Transfer System. Capital Gains will continue to apply in respect of transfer of shares and other prescribed items, as well as immovable property situated abroad. The new final withholding tax will be…
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