Human error in bookkeeping can lead to costly mistakes, from incorrect tax filings to misreported revenue. Outsourced bookkeeping firms employ diligent processes and advanced software to minimise errors. Their teams are trained to spot discrepancies and maintain clean, organised financial records. Cleaner books not only reduce the risk of being non-compliant, but also provide a […]
Even top performers need mentors, but not in the same way as everyone else. High achievers thrive when mentors push them to grow beyond comfort zones, build emotional intelligence, and expand their networks. Great mentorship isn’t about praise: it’s about challenge, reflection, and connection.
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 Malta Budget 2026 Highlights were presented on the 27th of October 2025.This year’s Budget outlines measures aimed at supporting sustainable growth and social well-being through a range of initiatives for families, businesses, and the wider community. It places particular focus on innovation, fiscal responsibility, and long-term investment.The GCS Malta Budget 2026 Highlights Report concentrates […]
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.
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.