The Malta Financial Services Authority (MFSA) has signed a memorandum of understanding with the Financial Intelligence Analysis Unit (FIAU) to facilitate on-site inspections in connection with the prevention of money laundering and the funding of terrorism, a common goal for both parties, in view of their common supervisory function. The primary...
Macroeconomic Imbalances: EU awards Malta a...
01 April 2014
The Maltese financial sector was awarded a clean bill of health by the European Commission in terms of the review carried out under Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances. It concluded that the macroeconomic challenges in Malta no longer constitute substantial risks and do not cause imbalances....
Income Tax Cut Backdated to January 1st
15 March 2014
The income tax cut announced in the Budget 2012 will be retained and backdated to January 1, as originally planned saving a tweak to ensure minimum wage earners do not pay income tax. The income tax rate of 35% per cent will be reduced to 32% for people with an annual income not exceeding €60,000. Source: Ministry of Finance
Fitch confirms Malta 'A' rating
14 March 2014
Fitch Ratings has affirmed Malta's long term foreign and local currency issuer default ratings as A. It has also affirmed the A rating for Malta's unsecured foreign and local currency bonds. Fitch has affirmed Malta's short-term foreign currency IDR at F1 and the Country Ceiling at AAA. The outlook is stable. Fitch Ratings held that the Maltese...
More Gaming Companies set their sights on Malta
14 March 2014
Parliamentary Secretary Edward Zammit Lewis announced on the 14th March that the gaming company BWIN shall be investing in Malta after it was granted several licenses by the Gaming Authority to offer an online casino, sportsbook and poker. Such investment, he said, filled the government with courage and enthusiasm to work harder and confirmed...
