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The Malta Financial Services Authority (MFSA) has been conducting a number of consultations to gather valuable insights as part of the review and update of the Financial Institutions Rulebook. As part of this process the MFSA released further enhancements to the Financial Institutions Return (FI Return), governed by Chapter 3 of the Financial Institutions Rulebook (FIR/03).

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.

The landscape of work continues to evolve across Europe, with remote working emerging as a significant driver of organizational change. A new study conducted across 15 European countries offers fresh perspectives on how this transformation is reshaping both business practices and employee expectations.

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.

In today's dynamic business landscape, compliance audits are crucial for navigating regulations and achieving sustained success. Discover how these audits not only ensure compliance but also help your organisation thrive, setting you apart from other audit types.

The FATF identifies jurisdictions with insufficient measures against money laundering and terrorist financing in two public documents released three times annually. The FIAU supports these documents through a Guidance Note on High Risk and Non-Cooperative Jurisdictions, requiring subject persons to adhere to the FATF's findings. This ensures enhanced compliance and vigilance in financial operations.

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.

While the NRA paints a cautiously optimistic picture, with an encouraging decrease in overall money laundering risk compared to 2018, it also unveils persisting challenges that require proactive adaptation from businesses and authorities alike as explored in this article.

In March 2024, the Malta Council for Science and Technology has launched the calls for proposals for five Horizon Support Measures to help Maltese entities participate in Horizon Europe.

The yachting industry is undergoing a transformative shift with the introduction of the Small Commercial Yacht Code (sCYC). This comprehensive regulatory framework applies to commercial yachts under 24 meters in length, emphasizing safety, compliance, and technological advancements. Dive into this insightful article to explore how sCYC impacts the industry and stay informed about the evolving landscape.

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.

The Financial Action Task Force (FATF) maintains a "grey list" of countries with strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks. These jurisdictions are included when they fail to meet FATF standards or if there are concerns about their AML/CFT measures. Reasons for inclusion on the list include weak AML/CFT frameworks, insufficient customer due diligence, lack of cooperation, and presence of terrorist financing. Being on the grey list brings increased international scrutiny, impacts access to global financial systems, and affects a country's economy and reputation. To be removed from the list, countries must address the identified deficiencies and demonstrate progress in strengthening their AML/CFT frameworks.

In an era where sustainability is not just a buzzword but a business imperative, Malta has marked a significant milestone with the issuance of its first green bond. This pioneering move not only reflects the market’s early steps in the commitment to sustainable development. It is a signal that there are new financing avenues for companies looking to contribute to a greener future. But how does a company in Malta issue a green bond? This article provides a simple guide, outlining the main steps and key considerations for companies who are interested in raising capital for environmentally friendly purposes.

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.

This expansion implies that the updated Guidelines will now offer insights into the mitigating measures that should be adopted. The document explains how CASPs can tailor their risk mitigation strategies, incorporating the utilization of blockchain analytics tools. Moreover, it provides guidance to other financial institutions and credit entities that either have CASPs as clients or are exposed to crypto assets.