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.
The GCS Malta Transparency Report 2024 provides a comprehensive overview of our commitment to ethical practices, robust governance, and compliance. It highlights how we maintain transparency across all services, ensuring trust and accountability for clients, partners, and stakeholders.
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 […]
The Malta 2024 Budget Highlights were published on the 30th of October 2023. This year’s budget emphasizes extensive incentives and increased benefits to boost economic growth, enhance social welfare, and improve citizens’ quality of life. Click here to view our budget highlights.
When discussing diversity in the workplace, we mean the representation and inclusion of people from different backgrounds, it includes appreciating the many viewpoints, experiences, and contributions that each employee brings to the table. Here are some key aspects to consider when fostering diversity in the workplace: Educate: Provide workshops and seminars for employees to attend […]
Deferred tax typically results in a liability being recognised within the statement of financial position. IAS 12 defines a deferred tax liability as the amount of income tax payable in future periods regarding taxable temporary differences. So, in simple terms, deferred tax is the tax that is payable in the future. Temporary differences are differences […]