On November 5th, 2020, the European Commission issued its Autumn 2020 Economic Forecast. The coronavirus pandemic represents a very large shock for the global and EU economies, with very severe economic and social consequences. Economic activity in Europe suffered a severe shock in the first half of the year and rebounded strongly in the third...
The bill no. 173 (Budget measures Implementation bill) is currently being debated at the Maltese Parliament. This bill suggests the introduction of a new proviso to article 12(1)(u)(1) of the Income Tax Act (CAP 123), which reads the following: “Provided further that the exemption contemplated by this paragraph shall not apply to a dividend derived...
“More ambitious proposals for economic growth were expected” – Silvan Mifsud, Director, Advisory Services Given the unprecedented circumstances, the 2021 budget is focused at addressing the immediate economic threat presented by the Covid-19 pandemic as well as presenting social support. In the short run (next 6 months till March 2021), the extension of the wage...
On October 6,2020 the Council of the EU has released the updated list of non-cooperative jurisdiction for tax purposes. The EU list of non-cooperative jurisdictions was established in December 2017 and is being updated twice per year. In such list appear only non-EU jurisdictions that either have not engaged in a constructive dialogue with the...
Following a downward slip in Consumer Confidence in August 2020, Malta’s consumer sentiment improved slightly in September 2020, based on a survey released by EMCS Ltd, on behalf of the European Commission. The findings are based on a survey of 1000 randomly selected households, conducted during the first three weeks of September. The same survey...