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INTERNATIONAL FINANCIAL REPORTING STANDARDS Reporting the impact of COVID-19
As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial
International Financial Reporting Standards COVID-19: Financial reporting and disclosures
COVID-19: Financial Reporting and Disclosures, identifies key financial reporting areas that entities need to consider when determining the impact on their
COVID-19 Responding to COVID-19: 7 Steps to manage cash flow and financial headwinds
The economic consequences of COVID-19 on future trading assumptions, and the direct impact on many companies, may place some companies under liquidity
DIGITAL TAXATION Double digital taxation: what it is and how to avoid it
Governments and tax authorities are scrambling to keep pace with the increasing digitisation of the global economy and public outcry over the levels of
Accounting Accounting implications of COVID-19
Accounting implications of COVID-19
ARTIFICIAL INTELLIGENCE How Artificial Intelligence is supporting the fight against COVID-19
Since it was first identified in the city of Wuhan (China), the COVID-19 coronavirus has infected over 121,000 people, killing over 4,000 patients. While
WOMEN IN BUSINESS Women in Business 2020
78% of mid-market businesses globally are actively working on removing barriers to gender parity at senior levels according to the latest research from Grant
Financial Services All hands must be on deck to repair Malta’s reputation
Representatives of the financial services sector, including the Institute of Financial Service Practitioners (IFSP) and the Malta Banking Association (MBA),
Residency Services British citizens’ rights in Malta
British citizens’ rights in Malta
Fintech Exploring the funds travel rule in terms of virtual assets issued by the FATF
In June 2019, the Financial Action Task Force (FATF) established various rules to combat the misuse of virtual assets for the purpose of money laundering and
IT & technology Defending key national infrastructures from cyber attacks
The possibility of Malta’s power grid being hit by a disruptive cyberattack is not remote. In October 2019, Siemens and Ponemon published the findings of a
Audit and Assurance Taking joint responsibility for corporate failures – An audit perspective
Following the Dutch Authority for the Financial Markets' (AFM) assessment during 2017-2018 on ‘quality change’ at PIE audit firms over quality safeguards that
Tax & regulatory ICO: fundamentals and the cryptocurrency tax in Malta
Initial coin offering (ICO) campaigns, sometimes referred to as ‘token sales’ or ‘token-generating events’ (TGE), which raise funds for a venture through the
Artificial Intelligence Malta’s national AI strategy: is the country ready?
The Maltese government has officially launched its national AI strategy during the Delta Summit 2019. The document is a blueprint for the progressive
BUDGET Malta Budget 2020: what are green bonds?
Malta Budget 2020: what are green bonds? During the presentation of the 2020 budget, Malta’s Finance Minister Edward Scicluna has announced that the Malta
Business consulting services Duties of the company director
Directors are in charge of the management and control of the company. They take decisions for and act on behalf of the company, usually during board meetings.
RESIDENCY Applying for residence in Malta
Any EU, EEA or third country national who resides in Malta for more than 3 months is obliged to apply for a Residence Permit. There are various grounds upon
Accounting Accounting for leases under IFRS 16
Definition of a lease IFRS 16 represents the first major overhaul of lease accounting in over 30 years. The new Standard will affect most companies that
Fintech Preventing and detecting the misuse of virtual financial assets: introducing the tools
Technology is rapidly evolving, and this is proven with the development of blockchain technology, cryptocurrencies and other virtual assets. Concurrently,
Blockchain Can GDPR and blockchain coexist?
A study published by the European Parliamentary Research Service (EPRS) seeks to examine whether the European Data Protection Regulation and the ancillary
TAX Say goodbye to the arm's length principle
The G20 has endorsed the The Organisation for Economic Co-operation and Development’s (OECD’S) roadmap for resolving the ‘tax challenges arising from the
Business risk consultancy The code of ethics – why is it important for organisations and professions?
The code of ethics is an important tool which can enhance the reputation and the perception of the public of a profession and an organisation. In fact, local
Access to Finance How Maltese companies can raise finance through Prospects MTF
A constant challenge faced by our clients is raising finance to fund their ideas and achieve their goals. As part of our service offering, we guide clients
Cyber security 5 simple steps to protect your office data from hackers
Digital threats to companies are on the rise, and organizations worldwide are investing a growing share of their budgets to secure their networks. A report
Fintech Drivers of the digital era: stay ahead of the competition
The quest for digitisation may be deemed elusive by some, however in switching from postal mail to fax and eventually to email, from paper-ledger to
FINTECH Issuing a VFA from Malta
Malta was the first country to enact a comprehensive regulatory framework to cater for ICOs. This move to regulate initial coin offerings inspired other
Fintech Malta: A digital asset hub providing clarity and certainty through regulation
Malta has led the way in the regulation of the application of distributed ledger technology (DLT), including blockchain, to the financial world, paving the way
Artificial Intelligence Human-centric artificial intelligence: a European approach
Since homo sapiens developed from earlier primates c. 300,000 years ago, we have constantly improved technology to serve our needs efficiently and with less
Artificial Intelligence Ethical considerations surrounding artificial intelligence
There is little doubt about the fact that AI and robotics will be two of the most defining technology accelerators of this decade. Apart from their deployment
Brexit Brexit: a Maltese perspective
Ever since that faithful day on 24 June 2016 Brexit has been characterized by disarray, discord and disorder. The British Parliament has been in disarray and
Business Related Services Non-Performing Loans Solutions
Resolving the issue of Non-performing Loans (NPLs) is not just a regulatory problem to address but a way to manage a bank’s balance sheet and increase
Business Related Services Non-Performing Loans and the risk posed to banking institutions
NPLs constitute a liability for bank institutions and require an organic strategy to deal with.
Technology Leveraging knowledge in a data rich world - Big Data and Business Analytics
We all heard about “big data”; which is incomprehensibly large data generated by real people. To give you an idea of scale; 90% of all data was created in the
Technology How companies are using Big Data
Big data analytics refers to the possibility of gathering and analysing a substantial amount of data through advanced Business Intelligence (BI) software
Healthcare and medtech APAC'S ageing population: the opportunities in health and medtech
The Asia Pacific (APAC) region is ageing more rapidly than any in history and Grant Thornton’s International Business Report (IBR) reveals that business
REITs in Malta Can REITs provide new options for real estate finance in Malta?
Real Estate Investment Trusts (REITs) are companies who own and manage various types of properties. These companies earn regular income through the rental of
Travel and tourism Malta’s travel and tourism sector review
2018 was an exceptionally good year for Malta’s tourism industry as the number of inbound tourists reached a record 2.6 million, reflecting an increase of
News round up Forecasting the future
Even if many believe the world is getting harder to predict, that hasn’t stopped international publications from trying to forecast the year ahead. Here we
Tax Direct to indirect taxation
How manage the hidden complexities of indirect taxation? It’s not just the immediate demands of VAT/GST that are complex and challenging, but the extent to
Finance The evolutionary progress of money
Progress in finance has facilitated the exchange of value to an automated process, but behind the scenes it has been a centuries’ long process to get where we
Growth iQ Who's embracing in the latest finance technology?
Only around half of businesses have a clear strategy and business case for enhanced digital transformation within the finance function. Is your organisation
Blockchain Malta leading the blockchain revolution
Many predict that DLT is reinventing and transforming key industries and creating new business models, making every transaction transparent, democratic,
Artificial Intelligence How Artificial Intelligence is changing the world
AI has slowly been working its way into businesses. Business Intelligence (BI) systems generate and automatically process a wealth of digital data providing
Blockchain How blockchain is revolutionising finance
No doubt that blockchain technology presents many opportunities that will keep transforming the financial space. The disruptive technology is exponentially
Budget Malta Budget 2019
Monday 22 October 2018 marks the presentation of the 2019 budget of this government aimed at stimulating economic growth, reducing government debt and
TAX Taxing the digital economy
Commerce is increasingly digital. Yet, the global tax system is still geared to the needs of a traditional ‘bricks and mortar’ economy. The OECD’s Base Erosion
Not for Profit Fundraising: adapt your message and medium to your audience
The most recent edition of the Charities Aid Foundation’s World Giving Index(i) reports a global decrease in giving over the previous 12 months. This slowdown
IFRS Accounting for cryptocurrencies
Cryptocurrency is digital or ‘virtual’ money, which uses cryptography to secure its transactions, to control the creation of additional currency units, and to
INTERNATIONAL BUSINESS REPORT Skills concerns hit new high
Global business concerns over a shortage of skilled workers hit a record high in the second quarter of 2018, according to research from Grant Thornton’s
INTERNATIONAL BUSINESS REPORT Revenues rise but investment remains flat
The dip in optimism suggests that the global economic cycle may have peaked. Business leaders should therefore consider using increased revenue to structurally
Insolvency in retail Will online shopping make retail giants extinct?
Looking at the Maltese scenario, in 2017 only 18% of respondents sold their products online and of these, the majority said that total online sales accounted
IFRS Accounting for cryptocurrencies
The popularity of cryptocurrencies has soared in recent years, yet they do not fit easily within IFRS’ financial reporting structure. In this Viewpoint we
International Business Report (IBR) Women in Business 2018
The percentage of businesses around the world with at least one women in senior management has increased significantly, rising from 66% in 2017 to 75% in 2018.
Family Businesses 1.5% reduced duty on intra-family donations. Don't miss out.
The introduced Family Business Act in 2017 saw the introduction of an incentive scheme for family businesses, whereby donations of marketable securities and
GrowthiQ Talent: essential tips to future-proof your business
SMEs may look to automate as they try to future-proof their businesses, but data from Grant Thornton's IBR suggests finding talent is a bigger issue. Read
Tax Taxation in real-time: Gearing up for blockchain
The question is no longer whether blockchain will disrupt the tax system, but how far, how fast and how to ensure your business is up to speed. Putting the
Funding Finding the funds to make it all happen
With the rapid pace of change in the local business scenario, today’s entrepreneurs are dealing with more complexity and facing new challenges when it comes to
GDPR Taking stock of GDPR – 10 key changes it will bring about
When it comes to the way companies handle and protect data, things are soon going to change thanks to a new set of rules that are stepping into force as of May
MERGERS AND ACQUISITIONS Reducing risk in cross-border transactions
Cross-border merger and acquisition opportunities are increasing as healthy company financials in many economies drive an appetite for deals. However, while
Budget Malta Budget 2018
Monday 9 October 2017 marked the presentation of the first budget of this government’s legislature, one which focused primarily on social welfare.
Blockchain Fairer and just societies using blockchain
Although blockchain technologies are mostly associated with Bitcoin and the current ICO craze going on right now, another less mentioned feature that
Startup and innovation 7 tips for startups and innovators
Just like no two zebras have the same stripes, no two business strategies are the same. Grant Thornton can help you develop yours.
Intelligent Business Preparing your business for the GDPR
On 25 may 2018 the European Union's new data protection law comes into effect, it will govern all businesses operating within the union and embed a more
Advisory Valuing startups: a combination of science and art
Typically, the valuation of any new economic asset is based on expected future cash flow, discounted at a rate that reflects the inherent risk facing the
Innovation Mapping your innovation strategy
Innovation remains a frustrating pursuit in many companies, often due two reasons - lack of a sound business strategy to support and implement fresh ideas, and
Digital Currency Will our government issue a digital currency?
Blockchain.com CEO and founder Peter Smith has recently stated that within 24 months we will see the emergence of a government-backed digital currency.
Blockchain technology Moving forward
Exploiting the full potential of Blockchain requires a solid technology infrastructure, along with the necessary skills to set it up, maintain and operate it.
Budget Malta Budget 2017
A summary of the main implications of Malta's 2017 Budget, including changes in personal income tax and other taxation, business requirements and more
Brexit Can your business navigate Brexit?
In thinking about the impact of Brexit on your businesses you will want to consider not only legal and regulatory changes but also market reactions, consumer
Family business succession planning Family business are the backbone of our industry
Malta’s family businesses employ about two-thirds of the private sector workforce, and contribute more than half of the country’s value added.