Insights

Understanding the distinction between capital allowances and accounting depreciation is crucial, as it directly impacts tax planning, financial reporting, and decision-making. Whilst depreciation affects company profits, capital allowances impact a company’s tax liability. 

Personal tax return season always serves as a refresher of Lesson 1 in Maltese tax law: The distinction between trading and capital gains. With the increasing number of individuals who venture into the stock and crypto markets, having a sound grasp of how profits and gains are taxed in Malta is an essential part of both traders' and investors' considerations when entering and closing a position. 

Internal controls are essential for organizations to manage risks, safeguard assets, and ensure accurate financial reporting while maintaining compliance with applicable laws and regulations. They consist of policies, procedures, and practices implemented across the business to achieve these goals.

The IASB has introduced IFRS 18, ‘Presentation and Disclosure in Financial Statements’, a new standard replacing IAS 1.  While IFRS 18 retains many of IAS 1’s principles with minor adjustments, it does not impact the recognition or measurement of financial statement items. However, it may change how entities report their operating profit or loss.

Malta, as a member state of the Partial attribution is a method used by businesses to figure out how much VAT (Value Added Tax) they can get back when they buy things for their company.

Management accounts play a pivotal role in the strategic decision-making process for businesses. These accounts provide vital insights into a company's financial health, helping managers to make informed decisions. However, simply generating management accounts is not enough. Understanding the key factors that influence them and developing strategies that optimise business operations is crucial for maximising profitability and efficiency.

International Financial Reporting Standards (IFRS) are continuously changing providing better insights for how various types of transactions and events should be reported in the financial statements, enabling businesses to compare financial performance and position across borders. The applicability of IFRS will enhance a true and fair view leading to increased confidence among the stakeholders so it is important to keep up with any changes and developments in IFRS.

The Maltese government has announced significant changes to the Value Added Tax (VAT) system for small and medium enterprises (SMEs), set to

Group loss relief arises when a company that is part of a group of companies incurs trading losses. Instead of carrying these losses forward

Malta, known for its strategic location and robust economy, offers a range of investment schemes, grants, and financial incentives to encour

As a general rule, the letting of immovable property is an exempt without credit supply which means that the lessor does not charge VAT

We are delighted to announce that The Micro Invest scheme has been reopened for 2025.

Malta Enterprise has just relaunched the Micro Invest Scheme. The Scheme offers tax credits to both self-employed individuals and...

This article examines and reviews the significant changes relating to payroll for the financial year 2024. ·        FSS Submissions...