News

Malta extends exemption for royalties deriving from copyright

Malta has reaffirmed its role as a leading role as an international hub for intellectual property tax planning by extending its tax exemption to royalties and similar income derived from copyright, including advances derived from copyright. Continue reading “Malta extends exemption for royalties deriving from copyright”

Participating Holding Given Wider Scope

May 2012

Recent amendments to the Income Tax Act have extended the scope of participation exemption and participating holding.  Currently, a participation exemption is applicable on income or gains derived from a participating holding or upon the transfer of such participating holding.  However, until now the fundamental precept was that the participating holding was only possible where the holding by the Maltese company was held in a body of persons constituted, incorporated or registered similar to a partnership en commandite the capital of which is not divided into shares – more reading on our website – http://www.fbsmalta.com/malta-tax-structures-2/tax-treatment-of-the-malta-company/ Continue reading “Participating Holding Given Wider Scope”

Malta reiterates its competitive low-tax status

Figures released by Eurostat on the 21st May have clearly outlined Malta’s competitive edge over other EU Member states in a number of key tax sectors.

Continue reading “Malta reiterates its competitive low-tax status”

Maltese Gaming Authority signs MoU with its Danish Counterpart

The Lotteries and Gaming Authority has intensified its collaboration with a number of gaming authorities.  The last such collaboration has been with the Danish Gambling Authority (DGA), culminating in the execution of a Memorandum of Understanding (MoU) on bilateral cooperation, between the two countries. The Memorandum of Understanding was signed by Mr Reuben Portanier, CEO of the Lotteries and Gaming Authority and Ms Birgitte Sand, Director of the Danish Gambling Authority.

Continue reading “Maltese Gaming Authority signs MoU with its Danish Counterpart”

Registering a Malta Company @ €345- new FBS Malta pricelist

The incorporation of a Malta Company has never been more affordable than now.  In its drive to reduce barriers to business, Focus Business Services , one of the largest and most reputable corporate service providers in Malta, is now offering the formation of a Maltese Company at just €345 - which price includes:- Continue reading “Registering a Malta Company @ €345- new FBS Malta pricelist”

Malta Signs Double Tax Treaty with Israel

A double taxation avoidance agreement between Israel and Malta has been signed in Jerusalem in August, for the prevention of double taxation between the two countries.  The agreement was signed by Finance Minister Avigdor Lieberman for  Israel and Malta’s Deputy Prime Minister and Foreign Minister Tonio Borg. Continue reading “Malta Signs Double Tax Treaty with Israel”

Malta is largest European Shipping Registry

Malta has cemented its pivotal role in the maritime industry, by becoming the largest shipping registry in Europe (in terms of tonnage) and the seventh (7th) largest in the world overall.  Types of vessels registered include cruise liners, oil rigs and even superyachts.
Continue reading “Malta is largest European Shipping Registry”

Malta PIFs (Professional Investor Funds) registers strong growth

Malta has ranked an impressive 15th place in a study commissioned by the World Economic Forum in terms of the level of development of the financial services sectors, achieving the same benchmark level  as more seasoned jurisdictions such as Switzerland and Luxembourg. Continue reading “Malta PIFs (Professional Investor Funds) registers strong growth”

Cyprus Yacht Leasing Scheme paves ways for easier EU VAT Paid Certificate

Following the introduction of the Cyprus Yacht Leasing Scheme in March 2012, yacht owners now have a wider choice as to the jurisdictions with allow yacht leasing schemes – specific guidelines that blend a low VAT rate, whilst ensuring the issuance of the much coveted – EU VAT-paid certificate. Continue reading “Cyprus Yacht Leasing Scheme paves ways for easier EU VAT Paid Certificate”

Malta ratifies Double Tax Treaty with Bahrain

Malta has ratified the double tax treaty agreement with Bahrain, which has now entered into force as of 28 February 2012. Double tax treaty between Malta and Bahrain had been signed in April 2010, which agreement has been ratified by Bahrain in December 2011. Continue reading “Malta ratifies Double Tax Treaty with Bahrain”

Malta issues High Net Worth Individuals Rules

The long-awaited High Net Worth Individuals Rules (“the Rules”) have been finally issued by the Ministry of Finance, with effect as of Continue reading “Malta issues High Net Worth Individuals Rules”

New Video Conferencing System Launched by Focus Business Services

In a constant strive to offer clients an ever-better service, Focus Business Services has launched its new state-of-the-art video conferencing  system designed to enable clients to participate in meetings and seminars with all our partners from all across the globe. Continue reading “New Video Conferencing System Launched by Focus Business Services”

UCITS IV – Towards the next instalment

The transposition of Directive 2009/65/EC of 13th July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS IV Directive) shall be transposed by Malta as of Continue reading “UCITS IV – Towards the next instalment”

Malta signs Double Tax Treaty with Turkey

Malta and Turkey have, on the 14 July 2011, signed an agreement in Istanbul to prevent double taxation between the two countries.  The agreement was signed by Finance Minister Mehmet Şimşek for Turkey and Malta’s Deputy Prime Minister and Foreign Minister Tonio Borg. Continue reading “Malta signs Double Tax Treaty with Turkey”

Approved Jurisdictions for Aviation Registration

The Aviation Registration Act, Chapter 503 of the Laws of Malta, allowed for the registration of aircrafts by “qualified persons”.  Such persons included persons established in an “approved jurisdiction” Continue reading “Approved Jurisdictions for Aviation Registration”

Use of Side Pockets by Collective Investment Schemes

Side pockets are devices used by funds to rectify situations when assets of the fund’s portfolio become illiquid or hard to value, thereby hindering both calculation of the Net Asset Value as well as the redemption of units by investors.  The Malta Financial Services Authority (“MFSA”) has issued guidance notes regarding the use of side pockets for Professional Investor Funds (UCITS and non-UCITS Schemes are expressly excluded). Continue reading “Use of Side Pockets by Collective Investment Schemes”

Croatian EU Membership to catalyse investor’s interest in Malta

Poland’s Prime Minister Donald Tusk,  who assumes the presidency of the EU bloc, claimed,after talks with the leaders of Denmark and Cyprus, who take over the rotating leadership of the EU in 2012,  that Croatia could sign up its European Union entry deal as early as this year. Continue reading “Croatian EU Membership to catalyse investor’s interest in Malta”

No Employment Licence required for EEA / Swiss citizens

The Immigration Act (Chapter 217 of the Laws of Malta) prescribes that all foreign nationals seeking to work in Malta require an employment licence.

Continue reading “No Employment Licence required for EEA / Swiss citizens”

Guidelines on Profit Participating Loans (PPLs)

The EU Code of Conduct Group had recommended a guideline concerning Profit Participating Loans (PPLs) whereby a hybrid loan arrangement is to be deemed as a financial instrument that has characteristics of both debt and equity. In as far as payments under a hybrid loan arrangement are qualified as a tax deductible expense for the debtor in the arrangement, Member States shall not exempt such payments as profit distributions under a participation exemption. Continue reading “Guidelines on Profit Participating Loans (PPLs)”

LGA sets tax & accounting rules for iGaming companies

In order to maintain a level playing ground and ensure player protection, the Maltese Lotteries and Gaming Authority (“LGA”) prescribes maximum transparency measures for all licensed igaming companies in Malta. Continue reading “LGA sets tax & accounting rules for iGaming companies”

Malta Holding Companies ideal vehicles for Spanish investors

Malta has as of April 2011, ratified over fifty double tax treaties with an extensive network of jurisdictions.  One of the beneficial double tax treaties is the one entered into between Malta and the Kingdom of Spain. Continue reading “Malta Holding Companies ideal vehicles for Spanish investors”

Share Capital Requirements for Maltese iGaming Companies

iGaming licences shall only be issued by the Maltese Lotteries and Gaming Authority (“LGA”)  if the licence holder is Maltese registered corporate entity. The most commonly used form is a Maltese limited liability company. Applicants, must at application stage, submit a business plan outlining the methodology (marketing methods, technologies used, games to be operated etc;). The LGA shall assess the viability of the project as well as the expertise and know-how of the applicant. Continue reading “Share Capital Requirements for Maltese iGaming Companies”