Introduction of new MGA Regulatory Framework moves to 1st August 2018
Further to the notification of the draft legal framework regulating gaming in Malta through the Technical Regulation Information System, a Detailed Opinion has been issued by a Member State in relation to the current draft of the Gaming Authorisations Regulations (the “Regulations”) and the European Commission and another Member State have also issued comments in …
Continue reading “Introduction of new MGA Regulatory Framework moves to 1st August 2018”
Malta Ahead of the Game: Three cryptocurrency and blockchain Bills passed the second reading stage
During a conference organised by the Malta Institute of Management, Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri, announced that the three crypto-related bills, namely the Malta Digital Innovation Authority Bill, the Innovation Technological Arrangements and Services Bill, and the Virtual Financial Assets Bill will pass through the second reading in Parliament, …
Extension of the Special Designated Areas
By virtue of Legal Notice 181 of 2018, the list of Special Designated Areas has been extended to now include the Southridge Development in Mellieha. In terms of Chapter 246 of the Laws of Malta, the following table would need to be followed for the acquisition of immovable property in Malta:
Deduction for Transportation Cost of Employees Rules
At the end of February, the Deduction for Transportation Cost of Employees Rules were published through LN67 of 2018. These rules shall apply with respect to transportation costs incurred for the transport of employees as from the year of assessment 2018. These rules shall remain in effect up to the year of assessment 2020.
VAT Grouping Regulations
By Virtue of L.N. 162, the newly implemented VAT Grouping regulations shall come into force as of 1st June 2018. VAT Grouping will enable members of a VAT Group to avoid irrecoverable VAT due on charges made between such members. Applicants forming the VAT Group will be required to be bound by financial, economic and …
Deduction for Transportation Cost of Employees Rules
At the end of February, the Deduction for Transportation Cost of Employees Rules were published through LN67 of 2018. These rules shall apply with respect to transportation costs incurred for the transport of employees as from the year of assessment 2018. These rules shall remain in effect up to the year of assessment 2020.
Notional Interest Deduction (NID) Rules
By virtue of Legal Notice 37 of 2018, the Maltese government introduced the Notional Interest Deduction (NID) Rules. Traditionally, businesses operating in Malta finance their operation via debt, given that interest is a deductible taxable expense. On the other hand, equity funded business do not have a corresponding deduction and hence the NID aims to …
The Malta Gaming Authority (MGA) Publishes Industry Guidelines on the General Data Protection Regula
In anticipation of the coming into force of the GDPR, the MGA, in consultation with the Office of the Information and Data Protection Commissioner (“IDPC”) has issued a guidance document which intends to provide B2C licensees with guidance on the processing of personal data carried out throughout the course of their gaming service operations.
GOLAW has Successfully Defended the Interests of One of the Largest Banks in Ukraine
GOLAW has successfully defended the interests of Ukrsotsbank, one of the largest banks in Ukraine, in a credit dispute over the obligations under a surety agreement.
Bär & Karrer Advises BZ Bank on Purchase of United Grinding Group
BZ Bank Aktiengesellschaft, through its acquisition company LEMRO AG, purchased the United Grinding Group from Körber Beteiligungen GmbH. The United Grinding Group is one of the world's leading suppliers of precision grinding machines.