The Role of AI in Accounting AI plays a growing role in modern accounting. It improves efficiency, reduces errors, and provides deeper insights into financial data. As a result, accountants spend less time on routine tasks and more time on strategic work. How AI Automates Accounting Tasks 1. Data Entry AI tools […]
Performance reviews can be powerful catalysts for growth when they’re treated as ongoing conversations rather than once-a-year formalities. By weaving regular feedback into everyday work, managers turn performance reviews into opportunities for clearer goals, concrete development, and stronger trust. Prepare with concrete examples, invite two-way dialogue, and set SMART goals together so your performance reviews are action-focused and genuinely motivating.
The Maltese government has taken a major step in tobacco regulation by publishing Legal Notice 195 of 2025. This notice amends the Fifth and Sixth Schedules of the Excise Duty Act and introduces excise duty on smokeless tobacco products. As a result, Malta now applies stricter control and taxation measures to products that were previously only loosely regulated.
Malta Introduces Optional 15% Company Tax Rate – Legal Notice 188 of 2025On 2nd September 2025, Malta issued Legal Notice 188 of 2025, introducing the 15% final income tax option under the Final Income Tax Without Imputation Regulations, 2025. This measure marks a significant change in Malta’s corporate tax framework, offering companies more choice while […]
Malta’s new Audit Exemption Rules, introduced under Legal Notice 139 of 2025, mark a significant shift in statutory reporting for small businesses. Designed to reduce compliance burdens while maintaining transparency, the rules introduce clear thresholds that determine when companies need a full audit, a limited review, or no audit at all. From micro-entities to certain shipping companies, these changes present opportunities to simplify reporting — and GCS Malta can guide you through eligibility, compliance, and strategic considerations.
Introduced in 2017, IFRS 17 replaces IFRS 4 and standardizes how insurance contracts are reported. Effective from 2023, it improves clarity and comparability of financial statements.
The Malta 2025 Budget Highlights were published on the 28th of October 2024. This year’s budget brings forward impactful changes for businesses, families, and the creative sector, fostering growth, innovation, and support across our community. From tax updates and housing schemes to education and creative grants, these highlights are set to drive opportunity and sustainability […]
L.N. 228 of 2024 has revised the Fifth Schedule to the VAT Act to expand the scope of VAT exemptions related to health and welfare. The revisions include the provision of medical care by professionals regulated under the Counselling Profession Act and the Psychotherapy Profession Act, as well as the supply of services by […]
The Commissioner for Tax and Customs has announced that L.N. 229 of 2024, which amends the Income Tax (Deductions) Rules (S.L. 123.07) concerning deductions for capital expenditure on intellectual property and rights, was published on 13 September 2024. These amendments will be effective for the year of assessment 2024. Additionally, a guidance note on Article […]