Malta


Small But Mighty

Posted on November 30th, by Global Tax Weekly in Citizenship, Individual Taxation, Offshore. No Comments

Malta is the smallest economy in the euro zone, yet is has come through the European economic storm in much better shape than many of its more economically powerful fellow member states, and this despite a number of handicaps that might have sunk a country of similar economic stature. For starters, its natural resources are limited, and it imports about 80 percent of its food and most of its energy. Doubtless aware of its economic vulnerabilities, Malta has been very proactive in the area of taxation, introducing various tax incentive schemes to attract foreign investors, including a citizenship for investment program. Indeed, it has sailed pretty close to the wind as far as the EU is concerned, because member states have to be very careful these days not to fall foul of state aid rules and other laws designed to … Read More »


Malta In The Crosshairs

Posted on March 9th, by Global Tax Weekly in Banking, Budgets, Corporation Tax, E-commerce, Individual Taxation, OECD, Offshore. No Comments

As usual during this period of fiscal stress for countries across the world, we look in vain for any cuts in taxes. But at least in Malta they are trying to improve matters for businesses through simplification of the tax system and throttling back the impositions of government. As I say that, I can already hear the offended wailings of the anti-brigade: oh, but Malta is offshore, it is a tax haven, it steals revenue from big “respectable” countries like Germany by helping banks and gaming companies with low tax rates, so that they can’t get the revenue to help their poor, huddled masses to survive the rigors of the nuclear winter we are all trying to survive. Let’s be clear: the “nuclear winter” is a direct result of the debts taken on by those countries’ politicians in pursuit of … Read More »


The Tortoise And The Hare

Posted on October 16th, by Global Tax Weekly in E-commerce. No Comments

For the European countries which used to make some or all of their living from being “low-tax,” which does of course include Switzerland, the EU has always been the elephant in the room, and if Switzerland may by now regret having been ambivalent towards the EU, some other countries which threw in their lot more whole-heartedly with the EU have met with unexpected outcomes. In the case of Cyprus, the initial EU-induced boom has turned to ashes in its mouth; but Malta seems to have gotten everything right, and is carefully building itself into a diversified financial services and e-commerce centre. Its latest wheeze is to create a secondary stock market designed to attract smaller, more entrepreneurial companies; technically it will be known as a Multilateral Trading Facility under the country’s investment legislation. Jersey and Guernsey have shown what can … Read More »





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