Fitch Ratings experts concluded its findings in a report that in the Maltese economy “the banking sector remains sound”. Malta has received an A+ rating by Fitch Ratings, this implies that the credit rating agency believes Malta’s Long-Term Foreign-Currency Issuer Default Rating as having a stable outlook. Malta’s economy continues to exceed performance and the...
Malta on the forefront with the enactment of three pieces of legislation; namely: The Malta Digital Innovation Act (the “MDIA Act”), The Innovative Technology Arrangement and Services Act (the “ITAS Act”), and The Virtual Financial Assets Act (the “VFA Act”). The introduction of these three pieces of legislation, which although to date are not yet...
The Global Residence Programme (GRP), implemented in 2013 enables an applicant and his/her dependents to benefit from a special tax status in Malta. Qualifying applicants would then be chargeable to tax in Malta at the flat rate of 15% subject to satisfying certain conditions, which include:- applicant is not a citizen of Malta or of any EU, EEA or...
The Constitutional Court has ruled, in the case of Brian Vella v. The Attorney General, that life sentences without parole which cannot be reviewed violate Article 3 of the European Convention on Human Rights: No one shall be subjected to torture or to inhuman or degrading treatment or punishment What tipped the balance was Vinter...
Ratings agency Fitch has confirmed its A+ rating for Malta’s economy. The agency said in a review the ratings reflect the country’s high national income per capita compared with the ‘A’ median, robust economic growth, a large net external creditor position and s trong governance indicators. Unemployment is low compared with ‘A’ rated peers, declining...
On the 26th December 2017 by virtue of Legal Notice 374 of 2017 as of the 1st January 2018 the Registrar of the Registry of Companies shall compile a register of the beneficial owners of each company that is registered. The register shall be known as the Register of Beneficial Owners. Beneficial owners means those...
Tax Credits Supporting the Refurbishment of Hotels and Restaurants Regulations 2018 implemented by virtue of Legal Notice 120 of 2018 Malta Enterprise Act (Chapter 463 of the Laws of Malta). Malta Enterprise are still in the process to provide detailed guidelines which are expected in the coming days. This scheme should be available to small and...
Virtual currencies are quite a recent emergence in the field of digital currency, which is evolving at a fast pace. Until the present day there is no actual universal definition to the term virtual currency. The Financial Action Task Force attempts to define it as being: “a digital representation of value that can be digitally...
No signs nor traces of fraudulent intentions were found in the case of the former Local Council of San Lawrenz as the very main aim of the former mayor and the former council officials was to transform the said location into an ecological and sustainable village. As a matter of fact the Court acquitted all...
An ageing population is a factual reality. As a matter of fact, APAN (Assocjazzjoni Pensjonanti u Anzjani Nazzjonalisti) held a conference on the 27th of October 2016 to promote active ageing and to also keep these senior citizens informed about what really concerns them when they reach this stage in their life. In fact, the...
