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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 professionals such as lawyers, accountants, auditors and teachers must abide by a code of ethics which is issued by a recognised organisation. Moreover, businesses tend to establish their own code of ethics when they do not have an official code.

On 25 January the Malta Financial Services Authority issued an update on the Virtual Financial Assets Framework to update the public on the progress of the implementation of the regulatory framework.

The Malta Financial Services Authority has recently launched a consultation paper highlighting its vision for the coming years. Labelled as MFSA's Vision 2021 it outlines the authority’s aim to strengthen its processes and paving the way for the future of the financial services industry. Concurrently, the MFSA also launched a consultation document on the MFSA's FinTech strategy, proposing the introduction of a regulatory sandbox and innovation hub.

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 which it forms part of wider shifts in how businesses are taxed.

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 are today.

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 and Profit Sharing (BEPS) Action Plan recognises the need for modernisation and has achieved quite a lot since the issue of its reports in October 2015. However, specific recommendations on digital taxation have been limited and the OECD’s calls for an international consensus on the way forward have so far been unheeded.

The introduced Family Business Act in 2017 saw the introduction of an incentive scheme for family businesses, whereby donations of marketable securities and business property used in a family business would be subject to a reduced duty rate of 1.5%, from the standard 2% or 5%.

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 hype aside, what does blockchain really mean for tax compliance and management within your business? What are the main risks and opportunities? How can you begin preparing for the shake-up ahead?

The use of international trusts is becoming ever more popular for several reasons. Malta has rapidly earned a reputation as an ideal location from which to establish and manage both private and commercial trusts.

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 2018. Better known as the General Data Protection Regulation (GDPR) –the new legal framework is meant to harmonise data protection standards across the 28 EU member states and is expected to ultimately reduce compliance costs, complexity, risks and uncertainty and ensure that people’s data is adequately protected.

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 consistent approach to data protection.

The Maltese film industry today is growing at a rapid pace, and there is no reason why it is not to become a pivotal film hub in Southern Europe and the Mediterranean.

The Family Business Act came in to force in January 2017 with the aim of facilitating the transfer of family businesses from one generation to the next with the hope of addressing significant succession planning issues.