Accountants in Malta

  • Glen
    Glen
    Glen obtained his ACCA qualification in 2014 and immediately afterwards he set up a corporate service provider firm, helping foreign entrepreneurs set up companies in Malta. In 2017, he set up Fitch Assurance Ltd as an Audit firm. He specializes in Malta company formations, accounting , preparing Financial Statements and providing external audit services.

Why Set-up Business in Malta?

Malta offers significant advantages as a company domicile, offering fully EU compliant, low effective tax rates and an excellent professional services infrastructure. The combination of Malta‘s unique tax system and its extensive and growing double tax treaty network means that, with proper guidance, planning and structuring, investors can achieve considerable fiscal efficiency using a Malta company to carry out its operations.

Maltese companies are taxed at a flat rate of 35% which is also the maximum rate for individuals. Other taxes include VAT, stamp duty and customs and excise duty. Malta is the only EU member state with a full imputation system of taxation in force.

Under Malta‘s full imputation system the shareholder of a company incorporated in Malta will, upon distribution of dividends, be entitled to a refund of in part or in full of any advance tax levied on the distributing company. A resident shareholder of a Malta company will be taxable in Malta on the dividend income, including the refund, at personal rates.

  • The amount of the tax refund attributed to a Malta company is set at 6/7ths of the advance corporation tax paid by the Malta company and 5/7ths in the case of passive interest and royalties received by a Maltese company.
  • The refund is reduced to 2/3rds where the distributing company claims double taxation relief.
  • With respect to Maltese participating holdings a full 100% refund applies. A Maltese participating holding “arises where a Malta company holds at least 10% of the equity shares of a non-resident company”, or meets certain other criteria set out in the law.

 

Additional Benefits

In addition to the considerable benefits of the full imputation system and the extensive network of double taxation treaties, Malta offers businesses other key benefits under its tax legislation, including the following:

  • As an EU member state, entities have access to the Parent-Subsidiary, Interest & Royalties, and Mergers Directives
  • An exemption from tax on income derived by collective investment schemes
  • Participation exemptions
  • The possibility of migrating companies to and from Malta
  • Advance rulings issued by the Maltese Commissioner of Inland Revenue on international transactions that guarantee the tax provision for a minimum of five years and may be renewed for a further five year period
  • The possibility for companies to denominate their share capital and their accounts in any convertible currency with the chosen currency then being used for payments of tax and tax refunds (where applicable) thus minimising exchange risks
  • An absence of “thin capitalisation” rules and no anti-controlled foreign corporation legislation
    No capital duty on share issues and exemption from duty on transfer of shares in, by or to companies having the majority of their business interests outside Malta
  • Low registration and maintenance costs
  • Relative ease of incorporation for non-regulated entities
  • A taxation scheme for groups of companies allowing offset of losses between group companies.

 

Tax Refunds

 Shareholder/s of a company registered in Malta are entitled to claim certain types of refunds. Tax Refunds may be claimed when income is allocated and distributed from the Maltese Taxed Account and Foreign Income Account. No refunds may be claimed on income allocated to the Final Taxed Account and Immovable Property Account.

Shareholders of the following legal persons may claim refunds of tax paid in Malta:

  1. Companies incorporated under the Laws of Malta
  2. Companies not incorporated under the laws of Malta which are managed and controlled in Malta
  3. Companies not incorporated in Malta and not managed in Malta but which operate through a branch in Malta.

 

Refunds may be claimed both by Maltese resident and non-resident shareholders.

Under certain conditions, the tax refund may also be subject to further tax in Malta.

 

Client Testimonials

Below is a list of client testimonials received from clients of our network of Accountants in Europe, obtained via Wufoo client survey platform:

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    S Crawford, Alhaurín El Grande
    Wednesday, November 22, 2017
    Miguel was quick to respond to questions, professional, personable, knowledgeable. Very Satisfied with the service.
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    Bruce and Susan Moore, England
    Tuesday, October 31, 2017
    Great responsive and assured service
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    Hugh and Ann Morgan, Palma de Mallorca
    Monday, October 30, 2017
    His command of English is First Class.

    He demonstrated the highest level of professionalism and efficiency and l would have no hesitation in using him again or recommending him to any of my collea...gues or friends

    Competent, capable value for money FIRST CLASS and a credit to the organisation
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    Anthony Bennett, Barcelona
    Thursday, October 19, 2017
    Anna provided the best possible solution for me in my situation, and helped out as much as she possibly could. I would recommend her services to anybody seeking legal or financial advice.
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    Carlos Pelaez, London
    Monday, July 03, 2017
    She was friendly and attentive at all times, quick answers on whatsapp app and always up to help and answer my questions. I'm pretty satisfied with her service.
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    Amy Wahba, Barcelona
    Monday, March 06, 2017
    She was understanding and tried to maintain positive always even when doors closed in our face. She is always smiling and tried to find solutions to my problems which kept me always at rest.
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    Richard Whiteside, Lucena
    Monday, February 20, 2017
    Miguel has provided an excellent service, helping me sort out my tax and social security obligations as an ‘autonomo’.

    He is always prompt with his answers to my questions, he offers timely adv...ice and always makes sure that I am prepared in advance.

    His English level is excellent and I will continue to use his service in the future.
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    Robert Toth, Ireland
    Thursday, February 09, 2017
    Anna was very, very helpful, always happy to assist and also approachable and professional. I was very satisfied with the legal services.
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    Saeid Aboutalebian, Iran
    Wednesday, February 08, 2017
    Everything is good about Anna. She is very friendly. And I definitely would use the same lawyer again in the future.
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    Fiona Murie, UK
    Wednesday, November 09, 2016
    Miguel has always been extremely approachable, helpful and given sound advice. He has kept us informed at every stage and quickly answered questions to help us make informed decisions.

    We feel like... we have had value for money and will definitely use Miguel as our only lawyer for all Spanish business.
    He has been fantastic! Very professional
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    JS, Barcelona
    Friday, May 20, 2016
    Miguel is extremely helpful, couldn’t have done more. He is also responsive, transparent and informative.
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    Sharon Janet, Stoke-On-Trent
    Wednesday, April 06, 2016
    Miguel was always available to discuss any issues we had.

    Excellent service more than happy and will be going back to him with and future legal issues. I would advise anyone to deal with this pract...ice more than accommodating.
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    AJH Platino Servicios, S.L., Tenerife
    Tuesday, March 31, 2015
    To date these are routine services but he appears to be up to date with the latest legislation and the advice we have received thus far has appeared sensible to me. As we begin to explore what our com...pany might do I am sure we can make it a little more challenging for him!
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    Marian O’Dwyer, Alhama Granada
    Monday, March 30, 2015
    Prompt, professional, friendly, explained everything clearly, went above and beyond the necessary to make things easy.
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    Kevin Neylon, Poland
    Monday, February 23, 2015
    Jaime was very responsive, represented value for money and was very professional and helpful. I was very satisfied with his advice.
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    P.T., Benalmadena
    Thursday, January 15, 2015
    All tax returns are handled online, so I don't need to go anywhere to accomplish my tax obligations in Spain. Although the service is provided mainly by internet, Jaime met me when necessary, and I ca...n always contact quickly him or his team by phone, email, skype and even whatsapp.

    Jaime and his team have been really helpful during the setting-up process of my business.
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    Nikolay Denev, Cádiz
    Thursday, November 20, 2014
    I was very satisfied with the short time it took to set-up my documents and register me as autonomo initially.
    Now I'm happy with the service, and if I have any questions I have them answered quickly... and the answers are always easy to understand.

    The service represents excellent value for money.
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    H R Crowther, Huddersfield
    Monday, November 10, 2014
    Prompt response followed by confirmatary e-mails. Very approachable, and inspired confidence. Good value for money. Very satisfied and would definitely use the service again.
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    Florian Burkart, Barcelona
    Friday, September 05, 2014
    What we like about the service from Advocate Abroad: - Very knowledgeable and competent - Very friendly and helpful - Very good English and reasonable prices - Not trying to rip us off
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    B Clarke, Jayena
    Friday, February 14, 2014
    Jaime was extremely helpful and professional. He was happy to meet all of our requests and made our transaction extremely simple. Everything was explained clearly and all of our questions were answere...d.

    We also felt that the service provided to us, offered great value for money and we would highly recommend Jaime to other individuals.

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