The Malta Gaming Authority Publishes a White Paper Proposing Major Reforms to Malta’s Gaming Legal Framework. On the 12th of July 2017 Malta Gaming Authority (MGA) has published White Paper proposing reforms to Malta’s Gaming Legal Framework.
According to article published on Malta Gaming Authority website “the main objective behind this proposal, is to repeal existing legislation and replace it with a singular primary Act of Parliament entitled the Gaming Act, together with subsidiary legislation covering the main areas of regulation as well as a series of directives and guidelines issued by the Malta Gaming Authority as the single regulator of this sector. The proposed regulatory framework shall decrease unnecessary regulatory burdens, strength the supervision of the regulator, propose better consumer protection standards, responsible gaming measures and a risk-based approach. It also establishes objective-orientated standards to encourage innovation and development.
The Double Tax Treaty (DDT) between The Republic of Cyprus and the Kingdom of Bahrain entered into force in January 2017. The DTT is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and Capital with the aim to help attract foreign direct investment to Cyprus.
The aim of the agreement was to enhance and increase the trading aspect and attract foreign investment for Cyprus to be promoted as an international business center which will provide further growth.
Cyprus taxes include:
Bahrain tax includes:
The important provisions of the treaty are:
Tel: + 357 2200 7940
On 13th April 2017, the Parliament of Ukraine approved the Convention and Protocol between Ukraine and Malta on “Avoidance of Double taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income”, signed in Kyiv on 4th September 2013.
The Convention provides the following rates of taxation in line with the OECD Model Tax Convention:
The President of Ukraine shall be signing the Convention and Protocol, whilst enforcement shall enter into force after a mutual notifications by both states.
Amy Fenech Zarb
Senior Corporate Administrator
+356 2010 4000
Swiss Citizens are being asked in a national referendum next Sunday to approve reforms that would eliminate selective tax deals and introduce unified low rates for all companies.
Under the proposed reforms international and domestic companies would pay the same rates. Supporters of the reforms point out that while multinational companies will face slightly higher tax rates, for ordinary companies tax will be much lower. That could stimulate investment and job creation.
Slovakia will introduce new corporate form in 2017 which will be a very attractive investment vehicle that will introduce the most modern legal framework in the EU.
This new form is called ‘simple (or simplified) joint-stock company’ (in Slovak: jednoduchá spoločnosť na akcie) (”Investment Company“), and will introduce modern legal framework. The vehicle shall be the best for venture capital deals and for PE investments involving less than 100% equity (both minority and majority buyouts).