Industry Updates

Malta – Exit Taxation

Corporate exit taxation is a tax on companies that redomicile to another country or transfer assets to another jurisdiction. This is a tax that is triggered by assets moving from the tax net of one country to the tax net of another country in the absence of a transfer to a third party.

Controlled Foreign Company (CFC) Rules

Broadly speaking a controlled foreign company (CFC) is a corporate entity that is registered and conducts business in a different jurisdiction or country than that where the controlling parent company or owners are resident. CFC regulations are anti-tax avoidance measures.

Malta – Anti Tax-Avoidance Provisions

The anti tax-avoidance provisions in Malta are broadly written. They include schemes or arrangements that reduce, postpone or obtain a tax advantage or refund or offset, should such schemes or arrangements be fictitious, artificial or non-genuine or are not put in place for valid commercial reasons or…..

Malta Imports €4.8 billion from EU

Malta imports from the European Union in 2019 were valued at €4,821.5 million, according to official data. The National Statistics Office recorded a drop of €312.8 million in the value of imports from euro area countries when compared to 2018. The value of imports from the United Kingdom were up €840.2 million while goods purchased […]

DAC6 – EU Mandatory Disclosures for Intermediaries

6th Amendment to the EU Directive on Administrative Cooperation:-
DAC6 comes into effect on the 1st July 2020 and imposes reporting obligations on cross border arrangements (CBAs), relating to direct taxation, that contain at least one of the hallmarks listed in the Directive. VAT and other forms of indirect taxation are therefore excluded from the Directive.

DM Europe TAG Alliances Ranked 3rd Globally

DM Europe’s international alliance of independent accounting and professional services firms, TAG Alliances®, has been recognized by Accountancy Age as one of the top three accounting alliances in the world. This is the eighth consecutive year that TAG Alliances has been ranked in this elite position.

Permanent Establishment

(1) For the purposes of this convention the term “permanent establishment” means a fixed place of business through which the business of an enterprise is wholly or partly carried on.
(2) The term “permanent establishment” includes especially…

Updates to VAT regulations in Malta

On the 22nd May 2018, two new legal notices concerning VAT matters were published, to enact VAT regulations announced by the Minister for Finance in the 2018 Budget.
VAT Grouping – The salient points of the legal notice entitled “Value Added Tax (Registration as a Single Taxable Person) Regulations …

GDPR – Our Experience

The General Data Protection Regulation (GDPR) has dramatically changed the data protection landscape for EU businesses and citizens when it came into effect on May 25, 2018. This new regulation has superseded the Data Protection Act (DPA) of 1998 and has strengthened data privacy in the EU. Personal data held by …

Malta’s tax debacle

Doubts being aired internationally about Malta’s tax regime will not go away. Although our critics do not have any moral high ground to stand on, the …