The Government is to set up an Investment Registration Scheme so that those people holding undeclared funds, stocks and investments abroad may be able to regularise their position, while paying a fair fine, Finance Minister Edward Scicluna said this evening.
The details would be published in the near future.
The minister warned that information sharing between countries was growing and soon, the authorities would have more details on hidden investments.
Action against unauthorised foreign traders
The minister also warned that the government would be taking action against unauthorised foreign traders who caused an unfair playing field for Maltese traders.
It was unacceptable, Prof. Scicluna said, that Maltese traders who paid tax faced competition from people who paid nothing. People would be able to report such traders online.