Category: Malta

Malta: A Question Of Substance

Malta continues to receive glowing reviews internationally as a stable financial services centre of repute within the European Union. Over the past fifteen years, Malta has moved seamlessly from being an offshore to an onshore jurisdiction, through the implementation of several legal, tax and regulatory rules intended to stimulate domestic… – Continue reading

Malta should brace itself for tax haven clampdown – AD

Greens say Malta should start thinking of Plan B on its attractive tax regime for foreign companies as pressure from major EU states on European Commission grows Malta should be prepared to diversify its current fiscal policy and even wave goodbye to its incentives to attract foreign industry, Alternattiva Demokratika… – Continue reading

New loophole to replace the ‘Double Irish’ tax strategy

Another sophisticated loophole in the tax system means the removal of the “Double Irish” tax-avoidance strategy won’t actually have any real impact for US firms in Ireland seeking to lower their tax bills. An influential US tax journal has found that the Irish subsidiaries of US companies can easily opt… – Continue reading

Malta involved in EU tax avoidance investigations

The European Commission has requested information from seven member states in state aid cases involving taxation: Belgium, Cyprus, Ireland, Luxembourg, Malta, the Netherlands and Britain and has opened four in-depth investigations in Ireland, Luxembourg and Malta, European Commission Margaritis Schinas said today. He was commenting  after a media report said… – Continue reading

Malta: The Residence Programme Rules, 2014 For Individuals Who Are EU, EEA Or Swiss Nationals

A Residence Programme (“TRP Rules”) has been introduced with effect from 1 July 2013 for individuals who are nationals of the EU, EEA or Switzerland (but not Maltese nationals) in terms of Legal Notice 270 of 2014 and Articles 56(23) and 96 of the (Malta) Income Tax Act, Chapter 123… – Continue reading

Malta Holding Companies 2014/15

Malta, like Cyprus, has been obliged to dismantle its old ‘offshore’ companies regime as a trade-off for joining the European Union. EU membership has, however, brought about certain benefits for Maltese companies trading across borders, and, coupled with investment-friendly government policies and some interesting tax planning opportunities, Malta remains one… – Continue reading

Malta halves EU property residency requirement

Malta’s High Net Worth Individual Rules for EU, which carried a minimum property investment of €400,000, has been replaced by the Global Residence Programme, with an entry point as low as €220,000 Malta has announced a new residency programme for EU nationals – and has halved the minimum property purchase… – Continue reading

Facing up to Fatca

This article was first published in the 2nd quarter 2014 edition of Personal Finance magazine. Most people accept that they have to pay taxes in their country of residence. But citizens of the United States and green card holders who live outside that country – even if they have never… – Continue reading

101 Countries Sign Up For FATCA Network

Foreign Account Tax Compliance Act (FATCA) has been in force for a month and still more countries are joining the tax network. So far, 101 countries and financial jurisdictions have either signed or agreed to join FATCA. FATCA is aimed at identifying US taxpayers with offshore bank accounts and investments. Overseas… – Continue reading

Review of patent tax regimes in EU has Irish support

Ireland can adopt ‘wait-and-see’ approach on tax breaks, says Department of Finance Ireland supports the EU review of all patent box regimes – under which certain member states offer tax breaks for intellectual property – and has decided to take a “wait-and-see approach” on the issue until guidance is provided… – Continue reading

Corporation tax: Rate cut likely as Prime Minister David Cameron set to let Northern Ireland go it alone

Northern Ireland looks set to be handed the power to slash corporation tax in a move with the potential to significantly boost our stuttering economy. In a development which could transform international investment, senior sources in London and Belfast predict that an announcement will be made no later than October… – Continue reading

QROPS Growing in the USA

Qualifying Recognised Overseas Pension Schemes (QROPS) are becoming increasingly popular in America, due to the loophole represented by a double-tax treaty signed with Malta – a country in the top three jurisdictions of choice since QROPS were introduced. Previously it was largely viewed as near-impossible to arrange for a viable,… – Continue reading

New Russian Forex Bill: Offshore Regulation To Be Banned

The schedule of the Russian parliament has been updated yet again and it appears that forex dealing regulation is coming back to the fray. According to recent reports by Russian media there might be some key amendments aimed to limit the participation of brokers residing in offshore financial centres (OFCs)…. – Continue reading

Worldwide: Luxembourg, Liechtenstein, Malta, Greece, Iceland And Colombia Commit To Automatically Share Tax Information

Back in April 2013, the G5 Governments agreed to work together on a pilot scheme on multilateral and standardized exchange of tax information, with a new initiative on information exchange, based on the so-called FATCA (Foreign Account Tax Compliance Act) exchange model. Luxembourg, Liechtenstein, Malta, Greece, Iceland and Colombia have… – Continue reading

Guernsey: Guernsey And Jersey Issue Draft Guidance Notes For FATCA-Based Reporting

INTRODUCTION On 31 January 2014 the Crown Dependencies of Guernsey and Jersey jointly issued draft Guidance Notes (in conjunction with the Isle of Man) on the implementation of obligations arising under the intergovernmental agreements (“IGAs“) signed by each island with the UK in October 2013 and with the US in… – Continue reading