PORTUGAL: Law No. 17/2019 was formally enacted in Portugal, requiring banks to report residents’ financial accounts above EUR50,000 by 31 July of each year. Transitional deadlines allow 60 days for reporting of accounts existing before …
BRITISH OVERSEAS TERRITORIES: MPs on the UK House of Commons Foreign Affairs Committee have urged the UK government to stick to the original date of December 2020 for the publication of public registers of beneficial ownership in each British Overseas Territory (OTs), as set by the …
LITHUANIA: The Council of Europe’s MONEYVAL anti-money laundering compliance committee has applied its enhanced follow-up procedure to Lithuania, ordering it to mitigate some ‘significant vulnerabilities’ regarding investigation and prosecution of money laundering, and the supervision of …
TAX POLICY: Most of the world’s financial centres have kept their promises to abolish preferential tax regimes in 2018, says the OECD in its latest review of harmful tax practices. Only seven regimes are still recognised as ‘harmful’ or ‘potentially harmful’ by encouraging …
UK: The UK government has set out its plans for EU, EEA and Swiss nationals arriving in the UK after a ‘no-deal’ UK exit from the EU on 29 March. In the event, free movement will end immediately, although there will be a transition period until 31 December 2020 during which …
TAX TRANSPARENCY: Fifteen jurisdictions are at risk of being identified by the OECD as failing to implement its tax transparency standards, OECD secretary-general Angel Gurriá told the G20 Leaders’ Summit in Buenos Aires last week. The OECD plans to report the results of talks with these jurisdictions to …
UK: From April 2020, the UK government will introduce a new 2 per cent tax on the revenues of digital businesses that derive profits from their UK users, it was confirmed in the 2018 Autumn Budget statement. It will apply to UK annual revenues of more than GBP25 million generated from …
TAX AGREEMENTS: The Irish and Maltese tax authorities have jointly declared that their bilateral tax treaty will prevent the so-called ‘single malt’ tax planning structure used by some US multinational enterprises. Such structures can be used to hold a multinational’s intellectual property in a …
MALTA: The country registered the greatest economic growth in the Eurozone in the first half of 2018, according to a report published by the international agency DBRS. In a report published on the 18th of September, the DBRS said that the Malta ranks first in the Eurozone in terms of economic growth, followed by …
PANAMA: The country has commenced its automatic exchange of information in order to meet OECD global standards, the government has announced. Panama will be exchanging information with 33 countries. Panama’s Chief Financial Officer, David Hidalgo, said that it was important to …
IRELAND: Ireland’s Finance Minister Paschal Donohoe has announced a dramatic reform of the country’s corporate taxation, introducing new provisions for controlled foreign companies and transfer pricing. Anti-hybrid and transfer pricing rules to reduce tax avoidance by …
Malta: The Malta Digital Innovation Authority was officially established during the Delta Summit, a gathering of innovators, entrepreneurs, academics, and regulatory bodies under one roof. The authority, spearheaded by …
CITIZENSHIP: The European Commission’s Justice Commissioner has warned that EU Member States need to be more cautious when granting citizenship in exchange for investment. Such ‘golden passports’ schemes represent an ‘extremely concerning’ security threat, Vera Jourova said.
SWITZERLAND: The organisation that runs the Swiss stock exchange will next year launch a trading platform offering integrated end-to-end trading, settlement and custody services for digital assets such as virtual currencies. The regulated exchange will host all elements of …
EUROPE: The European Commission’s Justice Commissioner Vera Jourova has criticised the ‘slow and unsatisfactory’ transposition of the EU Fourth Anti-Money Laundering Directive into Member States’ national law. The transposition deadline expired more than a year ago, and …
Group companies or individuals are:
- registered as Auditors in Malta
- registered as Accountants in Malta
