Malta announces its 2019 Budget whereby the country has recorded an economic growth leaving surplus of 1% in the country’s GDP. Malta’s labour market has increased resulting in a very low rate of unemployment.
During the next three years, Malta shall be introducing a 45-action plan to continue its combat against money laundering. These measures are in line with the programme of the OECD BEPS project which Malta forms part of. It will also be implementing the Anti Avoidance Directive (ATAD 1) which will come into force on the 1st January 2019.
Further measures that will be introduced include: –
- Interest limitation rules
- Exit tax rules
- General Anti Avoidance Rules (GAAR)
- Controlled Foreign Company (CFC) Rules
- The introduction of mandatory exchange of information (DAC6) by January 2020
- Implementing the EU Dispute Resolution Mechanism (DRM) by June 2019
- Implementing the ATAD 2 by January 2020