News

News
 23 Mar 2020 . Magdalena Velkovska
Amendments to the Greek Tax Laws seek to incentivise foreign investment through the introduction of a non-dom tax regime for foreign residents.
By virtue of Legal Notice 69 of 2020, the Maltese Parliament approved various amendments to amend a number of tax residence programmes, namely the Malta Retirement Programme, the Malta Global Residence Programme, The Residence Programme and the United Nations Pension Programme.
 23 Mar 2020 Dr Christine Sammut
Earlier this year the guidelines governing the place of supply for the leasing of pleasure yachts were updated by the Commissioner for Inland Revenue. The guidelines explain the ways in which the use and enjoyment of pleasure yachts is to be tackled for VAT purposes.
Businesses are facing financial hardship during this challenging period. They are seeing their revenues decline through decreased sales income, increase in expenses in order to introduce systems aimed at empowering their workforce to work remotely, bringing into action business continuity plans and other factors which are causing liquidity strain. For this purpose the government of Malta has announced a number of measures in order to temporarily assist with this burden.
Healthy Maltese Government Finances and IIP Fund to support Maltese Economy to face COVID-19 downturn through liquidity injections and bank guarantees. Up to €700m in Tax Deferrals and up to €900m in loan guarantees. Postponement of income tax, VAT and National Insurance dues for March & April for Employers & Self-employed. Up to €900m in Government bank guarantees for an additional access of €4.5 billion in credit. The NSDF IIP Fund to provide €150m in b
 17 Mar 2020 
The Maltese property lobby has announced it has concluded an agreement with the Government whereby all promise of sale agreements will be automatically extended due to certain entities such as the Law Courts currently under Coronavirus lock-down. We will be publishing the legal notice that will be announced soon.
 16 Mar 2020 
The spread of COVID-19 is disrupting the operations of all types of industries including the sizeable Malta iGaming industry. The Malta Gaming Authority is following closely the industry development and issuing communications to facilitate the operations of its licensees.
 13 Mar 2020 
Concurrent to the closure of courts, a legal notice has been issued suspending the running of any legal and judicial terms and of any other time limits including peremptory periods applicable to proceedings or other procedures before the courts.
By virtue of Act no 1 of 2020, the Prevention of Money Laundering Act (hereafter referred to as ‘PMLA’), has been updated to reflect the recent amendments imposed by Directive (EU) 2018/843 (hereafter referred to as ‘5AMLD’) on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
In the coming weeks Identity Malta will be contacting British nationals residing in Malta with a valid residence permit in order to commence the process to grant a 10 year residence permit.


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