Insights

Accounting has recently undergone a major transformation, the digital transformation. Once known for paper ledgers, spreadsheets, and manual processes, the field is now embracing automation, artificial intelligence, and real-time data tools. This is not just changing how accountants work, it's reshaping how businesses operate and make financial decisions.

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. 

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.

The Government of Malta, through Fondi.eu, has introduced three new grant schemes aimed at supporting businesses in their digital transformation and operational expansion. These initiatives—Digitalise Your SME, Digitalise Your Large Business, and SME Enhance—offer non-repayable grants to businesses looking to innovate, improve efficiency, and enhance competitiveness in the digital economy, and supports digital solutions that drive business growth, transformation and resilienc