OECD: Malta Tax Framework Meets International Standard
News    ·   12-08-2013
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AUTHOR: Donald Vella

On 31 July 2013, the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) announced, in peer review reports assessing the tax systems of 13 jurisdictions for information exchange, that Malta’s practices are in line with international standards of transparency and exchange of information for tax purposes.

The Global Forum said that Malta’s legal framework ensured that ownership, accounting and bank information was available according to its international standard, and that “the Maltese competent authority has direct access to databases from which most requested information can be retrieved, as well as broad access powers to collect further information requested for exchange of information purposes.”

The Global Forum further noted that Malta’s network of exchange on information mechanisms covers more than 90 jurisdictions, including all its relevant partners. “Feedback from its exchange of information partners attests to the high quality responses provided by Malta in a timely manner, in particular since the introduction of internal administrative guidance to streamline the process and shorten response times”.

For more information on the Malta's network of exchange please click here.

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