GCS Malta Transparency Report 2024
GCS Assurance Malta Limited is publishing its transparency report for the year ended 31 December 2024. GCS Malta Transparency Report
Guidance Note on the Taxation of Insurance Businesses Following the Adoption of IFRS 17 Insurance Contracts Rules
Introduction In 2017, the International Financial Reporting Standard 17 (IFRS 17) was introduced, replacing IFRS 4. IFRS 17, titled “Insurance Contracts,” establishes comprehensive principles for recognizing, measuring, presenting, and disclosing insurance contracts. It applies to annual reporting periods beginning on or after January 1, 2023. The standard aims to provide more relevant and faithful information […]
The Malta 2025 Budget Highlights
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 […]
VAT exemption for Counselling and Dental Services
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 […]
Guidance on Article 14(1)(m) ITA
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
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.
Diversity in the workplace
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 Taxation
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 […]
TikTok – How to create a successful marketing strategy
Creating a successful corporate TikTok marketing strategy requires a slightly different approach than other platforms. We listed steps to help you develop an effective corporate TikTok marketing strategy: Recognise your target audience on TikTok by learning about their interests and demographics. Although most of TikTok’s users are young, it’s still essential to determine whether your […]
The well-being of remote workers
The well-being of remote workers Remote working has many benefits to employees: there is no need for commuting, which saves a lot of stress and costs, and there is also increased flexibility. Unfortunately, there are also downsides to remote working. The main struggles are isolation and work-life balance, which can affect one’s well-being. How can […]