Effects of new Italian legislation on Maltese financial services sector

The tax reform occurring in Italy may have a direct effect on the Maltese international holding companies as well as nominee companies in Malta.

The financial services sector has been growing rapidly over the years in Malta. Various Italians and Italian companies have and are benefiting from the advantageous Maltese market.

The Italian Inland Revenue has over the years taken various actions that might have harmed the Maltese financial services sector unduly. This new law might yet be another law that affects part of the financial services industry.

Some claim that the effect might be a relatively considerable one. The opinion of others is that in the case of Malta the impact of this legislation will be a minor one.

Others sustain that it is not clear why the Italian government has enacted such a law in a time when maybe the practices that it is addressing are no longer common.

Dott. Roberto Geraci will put light on the matter during the MIM International Taxation Conference to be held on Friday. For more information please call Mrs T. Zahra on 2145-3097.