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Tax Rates Inch Up In EU27 5/25/2012 In its 2012 edition of the publication 'Taxation trends in the European
Union', Eurostat, the statistical office of the European Union, highlights
the observed increase in value-added tax rates, corporate tax rates and top personal
income tax rates in 2012, among the twenty-seven European Union member states.
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Guernsey Finance Influential In MENA Region 5/23/2012 Guernsey Finance, the promotional agency for the island’s finance industry, has
been named as one of the 50 most influential organizations working within the
Middle Eastern and North African funds industry.
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Malta Signs Gambling Oversight Agreements 4/25/2012 Malta's Lotteries and Gaming Authority has announced the signing of three cooperation agreements with other regulators, the European Sports Security Association, the sports integrity agency of global soccer association FIFA, and the Alcohol and Gaming Commission of Ontario, to strengthen its domestic oversight capabilities and contribute towards international enforcement efforts.
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Maltese Developers Cry Foul On Property Tax Valuations 4/19/2012 The Malta Developers Association has called on the government to rethink the valuation
of island property for the purposes of levying the 12% withholding tax on property
sales, to take into account the falling price of real estate.
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Malta To Improve Workings Of Deposit Compensation Scheme 4/9/2012 The Maltese Financial Services Authority has proposed measures to bolster the functioning
of the nation's Depositor Compensation Scheme - a safeguard to mitigate depositor
losses should a resident financial institution default.
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OECD Issues New Peer Reviews 4/5/2012 The Organization for Economic Cooperation and Development, publishing eleven new peer reviews, has said that the vast majority of territories which have been subject to critical assessments have implemented satisfactory legislative regimes that can facilitate the exchange of information on request.
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Guernsey Concludes Comprehensive DTA With Malta 3/21/2012 Guernsey has announced the signing of a comprehensive Double Taxation Agreement
with Malta, which will allocate the territories' taxing rights to ensure that double taxation is removed from bilateral trade and investment, and also permit tax information exchange on request.
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EU Divided Over FTT 3/15/2012 Despite months of ongoing discussions, Europe remains divided and seemingly
no further forward on the controversial issue of a financial transactions tax.
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Pokerstars Receives Malta License 2/17/2012 PokerStars has launched Pokerstars.eu under the group’s new license granted by the Malta Lotteries and Gaming Commission, which the company says will provide players with all the benefits of a European Union-issued license.
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FTT Will Hit UK Revenues Even With Opt Out 2/8/2012 David Cameron's refusal to sign a new European Union deal will not shield the UK from the impact of a financial transaction tax, Ernst and Young has said.
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Malta Signs TIEA With Gibraltar 1/27/2012 Malta has welcomed the signing of a Tax Information Exchange Agreement with Gibraltar,
which will provide both countries with tax information on request when there is evidence of fiscal crime.
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Maltese Banking Sector Concerns IMF 1/27/2012 With public finances being given a clean bill of health, the International Monetary Fund in its latest assessment of Malta has warned that safeguards must be introduced to protect the Maltese banking sector.
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Guernsey Remains Leader In Non-UK Listings 1/27/2012 Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market
authority.
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Danish Presidency's Fiscal Priorities Don't Include FTT 1/27/2012 Denmark’s Economic and Interior Affairs Minister Margrethe Vestager
recently explained to the European Economic and Monetary Affairs Committee that
the key priorities for the Danish Presidency of the European Union Council of
Ministers are increasing surveillance of budgetary policies, and the economic
and fiscal surveillance of eurozone member states facing serious financial instability.
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Malta Signs Tax Info Sharing Pact With The Bahamas 1/23/2012 Malta on January 18, 2012, signed a Tax Information Exchange Agreement with the Bahamas, to enable the two nations' tax authorities to share tax information
on request.
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Malta Finance Centre In Good Shape 1/18/2012 Malta's efforts to establish itself as a dynamic, cost-efficient, financial services domicile is paying dividends, according to promotional agency MaltaFinance, which has highlighted that each of the island's financial services sectors, insurance, banking, trusts and funds, recorded solid performance during 2011.
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EU Tax Burdens Stabilize 1/17/2012 Following three years of decline, European Union nations' tax-to-GDP ratios remained broadly level in 2010, the latest year for which detailed tax revenue statistics are available for all member states, as governments begin to consolidate their fiscal positions. In the euro area the downward trend in tax revenues continued, but decelerated in 2010, with a slight drop to 40.2% of GDP.
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Italy Backs EU Financial Transactions Tax 1/16/2012 Italy, under the new leadership of Prime Minister Mario Monti, has voiced support for the introduction of taxes on European financial transactions.
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Malta, China Pledge To Support Economic Alliance 1/9/2012 Maltese Deputy Prime Minister Tonio Borg has lauded the dramatic increase in bilateral
economic activity with China as the two countries look to enhance their business
relationship.
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Malta, Saudi Arabia To Sign Double Tax Pact 1/4/2012 Malta and Saudi Arabia are to sign a double tax agreement during the official
visit of Malta's Deputy Prime Minister and Minister for Foreign Affairs, Tonio
Borg, the Maltese government said on January 2.
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Malta Strengthens Regulatory Ties With Slovakia 12/23/2011 The Malta Financial Services Authority has signed a cooperation agreement with
the National Bank of Slovakia.
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Malta Extends Tax Amnesty Again 12/8/2011 The Maltese government announced on December 5 an extension to its Reduction in
Tax Penalties Scheme, which allows taxpayers with outstanding tax balances
for previous tax years to regularize their tax positions and benefit from reduced penalties.
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Bermuda, Malta Conclude TIEA 11/28/2011 The Bermuda government has welcomed the signing of a landmark Tax Information Exchange Agreement with Malta, which will establish a legal platform to allow the respective countries to exchange information in tax matters on request.
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Malta Consults On New ICC Structures 11/22/2011 The Malta Financial Services Authority has published a consultation document on
draft Regulations that would govern the proposed introduction of Recognised Incorporated
Cell Companies as an alternative to the Société d'Investissement À Capital Variable incorporated cell company form.
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Malta Cuts Tax Burden In 2012 Budget 11/17/2011 Malta's Minister of Finance, Economy and Investment Tonio Fenech has announced
numerous tax measures in the territory's budget for 2012, many of which reduce the tax burden on islanders and enhance the island's appeal to international investors.
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Hong Kong, Malta Sign DTA 11/9/2011 On November 8, Hong Kong’s Secretary for Financial Services and the Treasury,
Professor K C Chan, and Malta’s Ambassador to China, Joseph Cassar, signed
a double taxation agreement between Hong Kong and Malta.
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Malta Extends Tax Amnesty 10/3/2011 Inland Revenue Malta has announced that is to extend the Reduction in Penalties
and Interest Scheme for one last time, to allow any remaining taxpayers with outstanding tax debts
or unfiled returns to avail themselves of significantly reduced penalties and
interest when regularizing their tax affairs.
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Jersey Rated As Top IOFC 9/29/2011 Jersey has retained its position as the highest rated offshore international finance
centre in the latest Global Financial Centres Index published on September
26, 2011.
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Switzerland Submits 6 DTAs For Approval 9/5/2011 The Swiss Federal Council has submitted six double tax agreements, with South
Korea, Malta, Romania, Sweden, Singapore and Slovakia, to parliament for approval.
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Israel Boosts Tax Treaty Network 8/16/2011 The Israeli government has announced that double tax avoidance treaties have been signed and initialled with Malta and Panama respectively.
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Malta Signs Double Tax Pact With Israel 8/1/2011 Deputy Prime Minister and the Minister for Foreign Affairs, Toni Borg visited
Israel on July 28 and signed an agreement for the avoidance of double taxation
with Israel Foreign Minister, Avigdor Lieberman.
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Eurostat Notes Rising Consumption Tax 7/7/2011 According to a recent study conducted by Eurostat, the statistical office of the
European Union, the global financial and economic crisis has changed the
fiscal shape of Europe.
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Malta Enacts Incentives For Expat Financial Services Professionals 4/27/2011 The Maltese government has published the Highly Qualified Persons Rules, 2011,
bringing into force tax incentives retrospectively to January 1, 2010, that were
introduced to encourage non-resident highly-skilled workers to the island, and
clarifying the parameters of the scheme.
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Switzerland Signs DTA With Malta 3/1/2011 Switzerland and Malta have signed a new Double Tax Agreement, designed to further the positive development of bilateral economic relations and foster the exchange of information.
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Malta, Switzerland Revise Double Tax Pact 2/10/2011 The Swiss government on February 8 announced the conclusion of negotiations
with Maltese authorities towards the revision of a convention for the avoidance
of double taxation and fiscal evasion to include provisions for the exchange
of tax information, with both parties' initialling the text.
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Lamy Urges On Doha Participants 2/7/2011 The World Trade Organization’s Director General, Pascal Lamy, as chairperson
of the Trade Negotiations Committee, urged WTO ambassadors on February 2 to
engage in bilateral and small group discussions on resolving key obstacles to
a near-global multilateral free trade agreement, through the Doha Round.
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Ecofin Discusses Euro Crisis And Taxes 1/24/2011 Unveiling details of the latest European Union Economic and Financial Affairs
Council meeting, Luxembourg’s Prime Minister and Eurogroup President
Jean-Claude Juncker underlined the fact that the crisis that exists is not a euro
crisis but rather a sovereign debt crisis in some euro zone member states.
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EU Launches Multi-Year Review Of Cross-Border Taxation 12/23/2010 The European Commission has published a Consultation, which marks the commencement of a comprehensive multi-year review of the major cross-border issues faced by EU citizens, and proposes solutions for them.
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China, EU Discuss Untapped Trade Flow Potential 12/22/2010 The EU and China held the second, and final day of their third High Level Economic
and Trade Dialogue on December 21, at what was the first meeting between the two parties
since the entry into force of the Lisbon Treaty.
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Malta, US DTA Ratified 11/26/2010 During a ceremony in Valletta on November 23, Malta’s Finance Minister,
Tonio Fenech, pictured, and the United States Ambassador to Malta, Douglas Kmiec, exchanged
instruments of ratification for the double taxation treaty between the two countries.
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Malta Budget Uneventful 10/29/2010 As governments of low tax territories wrangle with public spending and reluctantly
consider tax increases, the Malta government – expecting a continued recovery
in tax revenues – has been able to pass a comparatively uneventful budget,
containing only nominal increases to taxation.
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China, Malta Sign Tax Agreement 10/27/2010 The Maltese minister of finance, the economy and investment Tonio Fenech and minister for taxation of the People’s Republic of China Xiao Jie have signed a new Agreement for the Avoidance of Double Taxation.
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Tax Treaty Deters Shipowner From Using NIS Flag 10/6/2010 Seatrans, a Bergen based shipping company, is planning to reflag nine chemical tankers and one paper carrier to Malta by the end of the year.
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ATO's Tax Claim Against James Hardie Upheld 9/8/2010 US building materials firm, James Hardie has not yet stated whether it is to appeal a recent Federal Court tax ruling, which upheld the Australian Tax Office’s claims that the firm's wholly-owned subsidiary RCI Pty Ltd owes back taxes and interest, resulting from a company restructuring in 1998-1999.
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Uruguay Stays On OECD Grey List 8/24/2010 Uruguay has reached agreement with India on an information exchange agreement, but for the present will stay on the grey list of the Organisation for Economic Co-operation and Development, since seven of its 12 agreements, including the one with India, still await signature.
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Maltese Income Tax Cut Shelved 8/17/2010 The Maltese government has confirmed that it is to postpone proposed
alterations to the top income tax rate in Malta, citing
the need for fiscal retrenchment to achieve a deficit below the Maastricht Criterion
of 3% of GDP.
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Malta, Cyprus Off Italian Blacklist 8/2/2010 The Italian Ministry of the Economy has issued amendments to the relevant legislation,
by which Malta and Cyprus have been removed from the country’s ‘blacklist’
of tax havens.
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Lugar Welcomes Passage Of US Tax Treaties 7/20/2010 US Senator Dick Lugar has praised the Senate for giving its advice and consent
to the US-Malta tax treaty and the protocol amending the existing US-New Zealand
tax treaty.
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Malta Launches Amnesty Phase 2 7/16/2010 Malta’s Ministry of Finance, the Economy and Investment has announced
phase two of a scheme to aid taxpayers with outstanding tax debts to regularize their position without incurring the
full amount of additional tax and interest.
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Malta Clinches DTAs With China, Uruguay 7/15/2010 The Maltese government announced on July 13 that it had concluded negotiations with China towards revising the convention for the avoidance of double taxation and fiscal evasion the two countries share. The government said the agreement, and another double tax treaty with Uruguay, would be signed during 2010 as part of the territory’s efforts to expand its network of such agreements.
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Asia Gains In Digital Economy Rankings 7/13/2010 The Economist Intelligence Unit has released its Digital Economy
Rankings for 2010, which find that, despite Europe maintaining top position in
terms of Internet infrastructure and adoption, recent investment has dramatically
improved the Asia-Pacific region's e-readiness.
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Brazil Reviews Preferential Tax Regimes 7/1/2010 The Brazilian tax authority has introduced an appeals procedure in respect of its black and gray listing of preferential tax regimes, which are subject to special tax requirements.
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Malta, Germany Revise Double Tax Treaty 6/18/2010 The governments of Malta and Germany signed a new protocol to the double tax
convention in force since 2001 to include protocols for the exchange of tax
information upon request.
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Malta Fights For EU Free Market Rules In E-gaming 6/16/2010 Malta has disagreed with the conclusions of an EU Competitiveness Council meeting
which adopted a definition of illegal gambling as: “gambling in which
operators do not comply with the national law of the country where services
are offered, provided those national laws are in compliance with EU treaty principles".
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Jersey To Ratify Maltese DTA 6/7/2010 Jersey’s legislative assembly, the States, is expected to ratify the convention
for the avoidance of double taxation and fiscal evasion signed
with Malta on January 25, 2010 when the text is tabled on June 8.
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Maltese FSA Publishes Annual Report 4/22/2010 The Maltese Financial Services Authority has said in its annual report, published
on April 16, that the island’s finance industry “performed extremely
well,” growing significantly despite the financial economic crisis.
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Industry Denounces ANSP Fee Rise 4/22/2010 Despite the industry's call for all air navigation service providers in Eurocontrol
to freeze or reduce rates in 2010, no fewer than 19 states have proposed increases
over 2009 levels, according to recent statistics released by IATA.
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Offshore Gambling Websites Win French Case 4/20/2010 Three of France's largest casino groups who joined together to sue several online casino operators with the objective of blocking any licensing to the defendants for at least two years have had their case dismissed by the French courts.
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Bahrain, Malta Sign DTA 4/13/2010 Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, and
Malta’s Minister of Finance, Economy and Investment, Tonio Fenech, have
signed a double taxation agreement between their two countries.
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Malta's Finance Centre Grows 4/13/2010 The Maltese economy was buoyed by significant growth in the island’s financial
services sector during 2009, according to the island’s Minister for Finance,
the Economy and Investment, Tonio Fenech.
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Uruguay Expands Tax Treaty Network 3/30/2010 Uruguay and Finland have signed an agreement to avoid double taxation with respect to taxes on income and on capital. As with all agreements signed recently, Uruguay adopted the international standards and technical recommendations from the Organization for Economic Cooperation and Development.
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Guernsey Leads In Captive Insurance 3/24/2010 Two new studies have reaffirmed Guernsey’s position as the leading captive
insurance centre in Europe, and among the top four in the world.
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