Author: nicky

Applying for a PSD2 license: tips for fintechs

The introduction of the Second Payment Services Directive (PSD2) enables innovative financial technology companies, known as FinTechs, to enter the world of payments. But obtaining a payments license can be an uphill struggle. Senior Consultant Daniel Attard shares some tips for FinTechs embarking on the licensing journey after giving a brief overview of PSD2 and licensing.

Financial Services

It’s all orange

Over the past few years, the cultural sector was living through a revival phase. Buoyed by the increased tourism flows; performances, cultural events and music shows and events, where also becoming a tourism niche. Then the pandemic hit, and the tourism sector and cultural sector came crashing to a grinding halt.

All

Payments in Malta. Qua vadis?

A recent report by the Central Bank of Malta showed that the number of POS terminals has increased in recent years, particularly in 2020. Moreover, the vast majority of such terminals are now contactless.

Financial Services

Status of Malta’s immigration programs in light of EU scrutiny

Residency & Citizenship

Reduced rates of tax and duty on transfers of immovable property

Following the announcement of the reduced rates of income tax and stamp duty on transfers of immovable property earlier this month, the two legal notices confirming these new rates have been published.

Tax

Seed’s Proposal: A reduction in Malta’s Corporate Tax Rate

In the last few days we have seen a number of proposals being made ahead of tonight’s extraordinary budget. Later today, the Government will be presenting measures to continue to assist businesses and taxpayers as a response to the economic pressures brought about by COVID-19.

Strategy & Growth, Tax

Rent Subsidy Regulations

Following the publication of legal notice 187 of 2020, ‘Rent subsidy regulations’, Malta Enterprise launched a rent subsidy scheme, which supports undertakings engaged in eligible activities who require industrial space as a temporary or permanent solution for a number of activities.

Funding & Financing

The Consolidated Group (Income Tax) Rules

The Consolidated Group (Income Tax) Rules provide the possibility for a group of companies to elect to compute their chargeable income or losses on a collective basis. Guidelines were issued by the Commissioner for Revenue on the 18 May 2020 on the online registration process.

Tax

MicroInvest Scheme

Assistance under this Scheme is provided to undertakings employing less than 50 full-time employees and having an annual turnover of less than €10 million.

Tax

OECD Analysis of Tax Treaties and the COVID-19 impact

The COVID-19 pandemic has forced governments to take unprecedented measures such as restricting travel and implementing strict quarantine requirements. These restrictions have led many cross-border workers to be unable to physically perform their duties in their country of employment.

Strategy, Tax