A new residence programme for foreigners (non-EU) was recently launched in Malta, replacing the foreign residents’ scheme which was controversially suspended in 2011.

The Minister of Finance presented Malta’s Budget for 2014 to the House of Representatives on Monday 4th November 2013.

A person who is either ordinarily resident or domiciled in Malta is taxable on income and capital gains arising in Malta and on foreign sourced income.

From 1 January 2015 the place of supply rules relating to electronic services supplied to non-taxable persons in the EU will be taxable in the Member State of the customer.

On 26 March 2014, the Russian Federal Council approved the Malta – Russia Income Tax Treaty (2013).

Malta adopts a full tax exemption on income derived by a licensed shipping organisation that owns, charters or operates a ship over 1,000 net tons.

Malta and Liechtenstein have signed a Treaty for the elimination of Double Taxation in New York on the 27 September 2013.

Malta has been voted as the Most Favoured Fund Domicile in Europe for the second consecutive year during the 13th European Fund of Hedge Funds Awards 2014.

Malta has recently introduced an exemption on income or gains derived by a company registered in Malta which are attributable to a permanent establishment situated outside Malta.

A double tax treaty has been initialled between the government of Malta and the Kingdom of Netherlands in respect of Curacao.

On 22 May 2014, the Double Tax Treaty between Malta and Russia (2014) will enter into force; this treaty supersedes the Malta – Russia Tax Treaty (2000).

Malta’s two largest retail banks have passed a Eurozone-wide stress test, a review by the European Central Bank shows.

The unique international credentials of ICE Totally Gaming have been put into sharp focus...

The Government has recently issued a Legal Notice which brings into force, retrospectively, amendments to the Highly Qualified Persons Rules.

Malta's double tax relief provisions are based on the Credit Method in accordance with Article 23B of the OECD Model Tax Convention.

Malta does not impose any withholding tax on dividends, interest and royalties except for a 15% withholding tax when untaxed dividends are paid to a resident individual.

In the last few years Malta has become an attractive jurisdiction for individuals and also multi-national organisations to set up their Holding Company.

The Russian Finance Ministry has drafted a decree that will exclude Malta from the blacklist of offshore jurisdictions, according to the Russian news agency Tass.

Following the 2015 Budget presented by the Finance Minister during the end of 2014, a Bill has been issued which proposes a changed in the definition of the term ‘company’ for income tax purposes.

The new residence scheme for foreigners has been launched.