Deloitte Malta has launched the 2016 edition of the Deloitte Tax Bundle, an abridged selection of Maltese tax laws compiled and published by Deloitte with the permission of the Ministry for Justice, Culture and Local Government.
It contains a compilation of current legislation relating to income tax, VAT, duty on documents, relevant tax guidelines and selected EU directives.
This year, Deloitte also published the Deloitte Tax Bundle Plus. This new edition provides professionals, academics and students with a user-friendly desk companion which brings together Malta’s tax treaties as well as relevant EU and international instruments.
The two publications are being distributed together on a complimentary basis. Hard copies may be ordered by completing the online form at www.deloitte.com/mt/tax-bundle-request.
Both publications may be downloaded from the website at taxbundle.deloittemt.com.
Emirates offer reduced rateson Economy Class fares
Emirates is reducing its fares by up to 25 per cent on its Economy Class fares from Malta to 22 destinations in the Middle East, Asia, Africa and South Pacific.
Bookings have to be made by November 30 for outbound travel by June 30, 2017. Certain blackout dates apply and terms and conditions can be viewed on www.emirates.com/mt
The reduced Economy Class fares can be purchased either online: www.emirates.com/mt, from respective travel agencies or directly from the Emirates Sales Office at MIA (Departures Lounge), tel. 2557 7255.
Magro Brothers achieve AA+
Magro Brothers has won its highest rating yet from the British Retail Consortium (BRC) Global Standard for Food Safety.
The company has consistently achieved good results but this year was awarded a Grade AA+ result, something only given to a handful of manufacturers.
BRC is a leading safety and quality certification programme, used by over 23,000 certificated suppliers in 123 countries, with certification issued through a worldwide network of accredited certification bodies.
BRC Global Standards are often a fundamental requirement for products exported to different countries worldwide.
MFC Merchant Bank obtains access to €140m credit line
MFC Merchant Bank has obtained access to a non-recourse factoring credit line of €140 million from a leading European bank to finance its businesses.
Factoring is one of the products MFC Merchant Bank offers, in which a business – such as a supplier of goods – sells its invoices to a bank at a discount. The business obtains immediate liquidity while the bank receives full payment from the debtor at maturity of invoice.
“We are pleased with this announcement, which will enable us to finance additional transactions for the MFC Group of companies and expand our non-recourse factoring services to third party clients in the near future,” said Otto Karasek, president of MFC Merchant Bank.
MFC Merchant Bank is a specialty trade and structured finance bank based in Malta.
MSE Institute inaugurated
The Malta Stock Exchange Institute has been inaugurated, aiming to improve the level of financial literacy for individual investors as well as industry practitioners.
The institute will be running over 35 short courses and seminars on a number of subjects, ranging from introductory courses to more specialised subjects such as risk management, securitisation, trusts, compliance and regulation, hedge fund strategies and corporate governance, to name a few.
The courses are offered at the beginner, intermediate and advanced levels, since they are aimed at candidates with different levels of knowledge and financial literacy.
The majority of the courses will be held in English but, where appropriate, they will also be held in Maltese. Candidates may choose to enroll in single courses or may choose to attain a Diploma in Securities Analysis and Portfolio Management.
The 2017 course prospectus is available at www.borzamalta.com.mt.