On 22 February 2022, the Malta Financial Services Authority (“MFSA” or “Authority”) launched a month-long consultation on a new proposed Corporate Governance Code. This Code is being regarded as vital in fostering and enhancing governance, culture and conduct of Maltese entities.
By virtue of Legal Notice 105 of 2022, the Minister for Finance and Employment has recently amended the existing Qualifying Employment in Aviation (Personal Tax) Rules S. L. 123.168 (Principal Rules).
Malta publishes An Act to Amend the Companies Act with the primary changes focusing on the use of digital tools and processes as well as the appointment and the holding of office of directors and other company officers.
The Malta Commissioner for Revenue has opened a consultation exercise in December 2021 on Draft Transfer Pricing Rules
Malta Citizenship Statistics Issued
The Residency Malta Agency which regulates the Malta Permanent Residence Programme (MPRP), and the Malta Nomad Residence Permit has issued for the first time statistics on Malta’s residence by investment programme going all the way back to 2016. The statistics cover both the Malta Residence and Visa Programme which has now been repealed and the Malta Permanent Residence Programme which was launched last year.
The Malta Nomad Residence Permit launched in June 2021 has proven to be a very successful initiative to attract non-European digital nomads to reside and work from Malta.
The coffee giant Starbucks has prevailed in two Malta trademark infringement lawsuits against the St Paul’s Bay, Malta, coffee shop Strabuono Coffee. The cases were filed in 2017 (1153 / 2017) and judgement was delivered on 12 January 2022.
31 Dec 2021 Chetcuti Cauchi
At Chetcuti Cauchi, we believe that nothing is more valuable than the Gift of Time. Throughout the year, each department of the firm has adopted a specific cause, raised funds for it, and during Christmas time, each department has dedicated time and energy and funds to help this cause.
New Standard Contractual Clauses, or ‘SCCs’, have been issued by the EU Commission for data transfers occurring from within the EU to third countries, replacing the prior SCCs in operation under the previous data protection regime. These developments beg the question- what effect will this have regarding the impact left by the Schrems II case on the EU-US privacy shield?