This story is reproduced by kind permission of Maltamedia at: http://www.maltamedia.com
Although the UK has passed new tax laws concerning the declaration of interest on deposits held in the UK, Maltese depositors will not be affected.
Finance Minister John Dalli confirmed this in declaring that Malta and the UK already hold an agreement on double taxation relief and the Malta-OECD agreement.
The UK is updating its financial legislation to conform with EU guidelines and policy. It is a known fact that Maltese investors hold millions of pounds in accounts in the UK.
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