News

Voluntary Occupational Pension Scheme Rules

Voluntary Occupational Pension Scheme Rules

Dec 2017

The Voluntary Occupational Pension Scheme Rules, introduces a number of incentive tax measures to encourage an occupation pension system in Malta.

The recently published legal notice 228 of 2017 has introduced these tax incentives for contributions paid to qualifying schemes established under an employment relationship. The scope is to provide retirement benefits.

The rules apply in respect of contributions made to the qualifying scheme(s) by or on behalf of an individual who;

Earns an employment income, and
Is employed by a qualified employer.

This, including […]

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Notional Interest Deduction Rules

Notional Interest Deduction Rules

Nov 2017

The Notional Interest Deduction Rules have been introduced by means of Legal notice NO 262 of 2017, published on 5 October 2017.

The NID brings an equal tax treatment of debt and equity financing by allowing entities to deduct deemed interest on their equity. This provision shall take effect from year of assessment 2018.

However, given that this election is optional, the business entity has full discretion not to opt in.

The NID is computed by multiplying the interest rate to the risk […]

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Budget 2018 Highlights

Budget 2018 Highlights

Dean Micallef - Oct 2017

Overview

Following last Monday’s budget speech, The Minister of Finance, Profs. Edward Scicluna announced that our Real GDP growth was 5.5% in 2016 and 6.3% in the first 6 months of 2017. The country had a budget surplus projection of €88 million for 2017, which is expected to be 0.5% of the GDP, and the national debt is expected to drop to 54.93% in 2017.

As at August, inflation stood at 1.2%, and we have less than 2,500 registered as unemployed (employment […]

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What is the Micro Invest scheme?

What is the Micro Invest scheme?

Oct 2017

The Scheme

The Micro Invest scheme is a tax credit incentive for micro and self-employed businesses. Introduced by the Malta Enterprise, the aim is to support and encourage small businesses, family businesses and self-employed persons to not only invest in their business but also further expand and develop their enterprise.

This tax credit is calculated as a percentage of the eligible expenditure including wages of new employees. Further, interested applicants may submit one application per calendar year. This can only include costs […]

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Supporting Startups

Supporting Startups

Oct 2017

Starting up a new business may be tougher than it looks. Taking that leap of faith to launch a start-up involves self-discipline, investment, flexibility, effort, money and most importantly, a plan. It is tough but not impossible. Especially if you have the right support to help you throughout the entire process. At Firstbridge, we have been supporting start-ups since our own beginnings back in 2005.

Recently the Company launched its “Basement to Boardroom” programme, a structured and systematic approach which aims […]

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SME Financing – Listing on PROSPECTS

SME Financing – Listing on PROSPECTS

Klara Grech - Sep 2017

Small and Medium-sized Enterprises (SMEs) are by and large the driving force of today’s economy. Yet, it is generally quite difficult for SMEs to access alternative sources of finance other than through a bank or their own retained earnings.

The Initiative

The Malta Stock Exchange (MSE) have opened a gateway to access capital markets in an easy and efficient manner. The Prospects Listing initiative is in line with the MSE’s commitment to provide new capital market opportunities, create economies of scale as […]

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The Family Business Act – Paving the way for Succession Planning

The Family Business Act – Paving the way for Succession Planning

Rodrick Muscat - Jul 2017

When the Parliament of Malta enacted the Family Business Act its main objective was to facilitate succession planning, specifically targeting family owned businesses passing from one generation to another. This came as a direct consequence of EU wide proposals and encouragement by the EU to support its Member States in implementing rules regulating and facilitating such transfers. Malta was the first in Europe to implement rules in the area and plans are in place to further develop this area in […]

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Mature Workers Scheme

Mature Workers Scheme

Jun 2017

The Mature Workers Scheme

Under the mature workers scheme, companies may now benefit from tax deductions when employing mature workers.

The scheme is open for employers, including self-employed individuals, who employ persons between the age of 45 and 65. For one to be eligible, the employed individuals need to have been registered for work on Parts 1 and 2 of the unemployment register for the preceding six months.

The Benefits

Employers could benefit from up to a maximum of €11,600 in tax deductions on […]

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Opening on Sunday

Opening on Sunday

Dean Micallef - Apr 2017

Sunday Shopping

Malta has always been known within the retail community to be generally closed for business on a Sunday, shops traditionally needed to apply for special permission to open on a Sunday and against a payment of €700.

2017 marks a year of change as market pressures and consumer trends have finally prevailed. Earlier this year it was announced that Maltese retail outlets are now permitted to open on a Sunday at no extra cost in exchange for an alternative close day.

The general […]

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Technology vs Human Resources

Technology vs Human Resources

Klara Grech - Apr 2017

Picking up the pace

The Digital Age has introduced many technological tools primarily aimed at simplifying processes. These very same tools offer a solution for almost any routine task previously performed by man. But to what extent can technological automation replace man?

Modern software is designed to save time and energy as entrepreneurs search for ways to lighten the burden on employees and increase productivity.

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