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...
Kurt Muscat, Senior – Executive Advisory Services at EMCS commented, “While it may seem like lower prices are good, deflation can ripple through the economy. Often deflation causes high unemployment, and can turn a bad situation, such as a recession, into a worse situation, such as a depression.” In August 2020, a month in which...