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The European Union finds itself at a pivotal moment, grappling with economic challenges and mounting calls for reform. Recent discourse around the EU's regulatory framework and its focus on net-zero emissions underscores concerns over competitiveness and growth. Meanwhile, the United States, under the Trump administration, has taken a different path, recalibrating its strategies and presenting challenges to the EU's approach.

Explore how effective employee incentive schemes can drive business success by enhancing motivation, retention, and performance. This article discusses key strategies, including competitive compensation, long-term incentives, and performance-linked pay, to create a thriving workforce. Learn how to align employee rewards with company goals and shareholder interests to foster loyalty and achieve sustained growth.

Article 14 remains one of the most important articles within Malta's Income Tax Act, in view of the deduction pertaining to expenditure of a capital nature in relation to Intellectual Property ("IP") or Intellectual Property Rights ("IPR").

The demand for highly skilled workers within the investment services sector and insurance sector has expanded rapidly over the past years. In view of this, Article 6 within Malta’s income tax framework remains one of the most beneficial regimes aimed at attracting such workers to work for companies licensed and/or authorised by the Malta Financial Services Authorities. Such expatriates can benefit from a favourable tax status due to the tax exemptions as provided under the same mentioned article.

Explore Malta's Nomad Residence Programme offering tax exemptions and reduced rates for remote workers. Learn about eligibility criteria, income tax regulations, and reporting requirements for digital nomads. Discover how this scheme facilitates remote living while retaining foreign employment or servicing clients abroad, making Malta an attractive destination for those seeking a tax-friendly environment for their nomadic lifestyle.

On October 6th 2023, the Minister for Finance published Legal Notice 231 of 2023, introducing a new 12% VAT rate on selected services. This aligns with EU directives for VAT rates across member states. Locally, this amendment to the VAT Act's Eighth Schedule offers a reduced VAT ate of 12% on certain services.

Malta Enterprise’s Green Mobility Scheme supports businesses in transitioning to more sustainable transportation. It encourages the adoption of electric vehicles, provides cash grants and tax credits for charging infrastructure, and promotes leasing of clean commercial vehicles. Make your business environmentally friendly with our assistance.

In the heart of the Mediterranean, Malta has recently introduced formal transfer pricing rules through Legal Notice 284 of 2022. These rules, are set to reshape the landscape of multinational transactions in Malta. The new rules apply to basis years commencing on or after 1 January 2024, affecting both new arrangements and those materially altered after this date.

Explore the Notional Interest Deduction (NID) and its role in reshaping financing strategies for businesses. Learn how NID bridges the gap between debt and equity financing, offering tax-efficient alternatives. Discover the mechanics of NID, including calculation methods and limitations. Consult the expert advisors at Grant Thornton Malta for personalized tax-saving solutions and embark on a rewarding journey towards financial success.

The Malta Financial Services Authority (MFSA) has launched its Corporate Governance Code. All MFSA authorised entities will have to abide by the code, which complements the existing provisions already in force in the legal and regulatory framework and is based on the principle of proportionality.

Over the past few years, automatic exchange of information has been viewed as the ultimate tool to combat tax fraud and tax evasion and following various amendments to the first Directive issued during 2011, the EU Directive 2018/822 (DAC6) was implemented to ensure mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements.

The EU Single Accounting Directive 2013/34/EU which substituted the Fourth and Seventh Directives on both individual and consolidated financial statements, introduced a new set of financial reporting requirements.

Governments and tax authorities are scrambling to keep pace with the increasing digitisation of the global economy and public outcry over the levels of corporate tax being paid by large multinational enterprises.

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 financing of terrorism. The funds travel rule featured in the FATF’s recommendations as well as it requires Virtual Asset Service Providers (‘VASPs’) to collate and share information about the sender (originator) and receiver (beneficiary) whilst undertaking a transaction.

Technology is rapidly evolving, and this is proven with the development of blockchain technology, cryptocurrencies and other virtual assets. Concurrently, criminals are also advancing in terms of technology use since traditional crimes such as money laundering, theft, drug trafficking and financing of terrorism are being shifted to the cyber world.

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 digitalisation of the economy’. The reallocation of profits and minimum tax proposals that have emerged following a recent round of consultations could put an end to the arm’s length principle that has governed transfer pricing for decades.