Malta has implemented the Virtual Financial Assets Act and has implemented a regulatory regime aimed at providing legal certainty revolving around the use of Distributed Ledger Technology – a global first. EMCS has applied for a license that enables the Company to act as a VFA agent for entities wishing to apply for an Article 7 or Article 14 license. We are able to assess whether the entity falls within the ambit of the Virtual Financial Assets Act and if so to ensure that all compliance and application requirements are met if the client is applying for an Article 7 or an Article 14 license.
Our tax team is equipped with the necessary skills to provide tax planning for entities that are operating within the DLT business. We are able to assess Direct and indirect tax implications based on communication that has been provided to us by the Commissioner for Inland Revenue in Malta. We can also assess stamp duty implications in relation to the use of the blockchain technology.
EMCS has invested significant resources to keep up with this rapidly evolving technology and our team is professionally equipped to provide directly related services as well as ancillary services emanating from blockchain based entities.
