26 April 2021

Closing Off Financial Records

The monthly, quarterly, or year-end close off process is a follow up to the book-keeping process. Accountancy in general and closing of the books are necessary in providing information to various users, to prepare financial statements and in...
20 April 2021

The Purpose of an EORI Number

The Economic Operators Registration Identification system, colloquially known as “EORI”, aims to connect every economic operator who interacts with the Customs Authority in any member state of the EU.
13 April 2021

Real Estate Investment Trusts

The Malta Stock Exchange (MSE) was late last year, given approval by the MFSA to amend its bye laws to allow for the listing of Real Estate Investment Trusts (REITS)


13 April 2021

Payment of Tax Due August 2020 to December 2021 Deferred

The Office of the Commissioner for Revenue (“the CfR”) notifies that companies and self-employed persons whose turnover has been affected negatively as a result of the Covid-19 pandemic may submit their application to defer eligible taxes to the...
30 March 2021

Need for stronger enforcement of the GDPR – EU Parliament

"The EU Parliament has recently voted and confirmed that, to date, the General Data Protection Regulation (GDPR) has been an overall success and does not need any amendments. However, the EU Parliament acknowledges that the focus should be targeted...
29 March 2021

Green Bonds

Green bonds are debt instruments whose proceeds are exclusively applied to finance or refinance, in part or in full,
22 March 2021

Applications for authorisations of CSPs now open

The Malta Financial Services Authority has started to receive applications in terms of the Company Service Providers Act for authorisations of CSPs. The new regime has brought about changes to the regulatory framework of CSPs.
22 March 2021

VAT Recapitulative Statement

The Recapitulative statement, colloquially known as a “Recap Statement”, is a VAT obligation which relates to intra-Community supplies of goods or services by Maltese suppliers to EU based businesses which have a valid VAT registration number.
9 March 2021

MFSA Released a Circular about Software-as-a-Service as an Outsourcing Arrangement

In its continued work to increase awareness about ICT matters, the MFSA has issued a circular titled ‘Software-as-a-Service as an Outsourcing Arrangement’ as more financial institutions are starting to adopt cloud solutions across different areas...
5 March 2021

Benefit of Tax Exemption for Voluntary Organisations Extended

By means of Legal Notice 39 of 2021, with effect from year of assessment 2022, a voluntary organisation shall be exempt from tax if its turnover for a given year does not exceed €50,000. This amount was previously capped at €10,000.