Malta – The Blockchain Island

On 4 July 2018, the Maltese Parliament approved three bills regulating Blockchain and Distributed Ledger Technology (DLT), including Initial Coin Offerings (ICOs) into law.  This is a very important milestone which puts Malta at the forefront of the blockchain industry.

Consequently, Malta became the leader in regulating this industry by establishing a holistic legislative framework for the treatment of cryptocurrencies, the launch of ICOs and the treatment of assets offered to investors, as wells as blockchain service providers, including the setting up of currency exchanges. In fact, throughout the past year Malta has experienced an ever-increasing interest in this industry from various players who chose to set up in Malta, including Binance which is one the largest cryptocurrency exchanges in the world.

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19 July 2018

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Income Tax Alert

Don’t forget the 30th June Deadline for the submission of personal income tax returns.

For advice or assistance please contact us on info@bakertillymalta.com

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Taxation of Rental Income

Any person who receives rental income from immovable property including both residential and commercial tenements can opt to have such income taxed at a flat rate of 15%.

30th June is the deadline for individuals/companies who want to avail themselves of the 15% final WHT on rental income.

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1 June 2018

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General Data Protection Regulation

The General Data Protection Regulation (GDPR) is the European Union (EU) regulation governing the collection, processing, use and storage of any individual’s personal data originating in the EU (citizens, residents and visitors, as well as EU citizens living abroad. It applies to all organisations around the world, regardless of where they operate. The GDPR will take effect on 25 May 2018 and replace existing data-protection laws throughout the countries of the EU.

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22 May 2018

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Notional Interest Deduction

The aim of the notional interest deduction ‘NID’ is to approximate the tax treatment of debt and equity financing. The rationale underlying such deduction is to approximate/harmonise the tax treatment of debt and equity financing as traditionally from a Maltese tax point of view debt financing has often been regarded as a more efficient way of financing business operations.

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7 March 2018

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