New Guidelines have been introduced further clarifying which persons are not entitled to benefit under the tax deferral scheme, whilst also clarifying the manner in which the settlement of the postponed VAT tax will operate. Specifically Excluded to benefit under the Scheme Persons who have opted to pay VAT under the Mini One Stop Shop […]
As a member of ICC FraudNet, Camilleri Preziosi has contributed to a compendium of the effects of the Covid-19 crisis on fraud and asset recovery across the different jurisdictions in which ICC FraudNet is represented. Malta’s contribution can be accessed here. To access the list of jurisdictions with their respective contributions please click here.
The rapid spread of the COVID-19 virus, has made social distancing – whether it is mandated or strongly advised by governments – somewhat of a rule to live-by. Businesses are naturally feeling the deleterious economic impact of the various forms of (imposed or voluntary) lock-down measures in the most widespread of manners, including by not […]
On March 19, 2020, the European Commission (Commission) adopted a Communication on the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak (Temporary Framework). On 4 April, 2020, the Commission adopted a Communication that amends the Temporary Framework which provides clarifications as well extends the Temporary Framework by providing for additional […]
A medical benefit can be procured by those individuals employed in the private sector of Malta, and who after the 27th of March 2020 due to COVID-19 and medical reasons, are not reporting to work in pursuance of an order by the Superintendent of Public Health not to leave their residence. Who is eligible for […]
The European Commission (the “EC”), through its decision dated 2 April 2020[1], approved the Maltese state aid COVID-19 loan guarantee scheme (the “CGS”). This decision was prompted by a notification sent by Malta to the EC under the EU Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak (the […]
On 2 April 2020, the Malta Financial Services Authority (the “MFSA”) issued a circular in relation to a consultation paper launched by the European Securities and Markets Authority (“ESMA”) on draft Regulatory and Implementing Technical Standards (“RTS” and “ITS” respectively) under the Regulation (EU) 2019/834 (“EMIR Refit”). Under EMIR Refit ESMA is empowered to develop […]
The COVID-19 outbreak (the “Outbreak”) has effects on, alongside many other legal sectors, the public procurement sector. The below seeks to highlight the most pertinent issues of interest in that respect to private and public parties alike. Force majeure and public contracts The consequences of the Outbreak on contractual obligations between private parties is also […]
Undoubtedly, the current COVID-19 unprecedented circumstances have made it significantly more onerous for Reporting Malta Financial Institutions to subsist operational activity whilst simultaneously ensuring conformity with their reporting obligations under the Cooperation with Other Jurisdictions on Tax Matters Regulations (the “Regulations”). In response to the above challenges, the Commissioner for Revenue has announced an extension […]
‘For their part European airports are predicting a loss of 67 million passengers in the first quarter of 2020.’[1] Without a doubt, the aviation sector has been one of the sectors most immediately and severely affected by the sudden outbreak of Covid-19, as evidenced by the dramatic drop in airline passenger numbers. One of the […]