New Era for FX Loans and FX Denominated Loans
This article will address major amendments and novelties stipulated for foreign exchange and foreign exchange denominated loans. In the first quarter of 2018, taking into consideration the current foreign exchange risks, the Council of Ministers announced a decree and a communiqué amending Decree No. 32 on Protection of the Value of Turkish Currency (published in …
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Proposed Regulatory Framework for Virtual Currencies and DLT
The Parliamentary Secretary for Financial Services, Digital Economy and Innovation, Hon. Silvio Schembri, unveiled a consultation document on the establishment of the Malta Digital Innovation Authority (“MDIA” or “Authority).
European Commission gives nod of approval to the Maltese Tonnage Tax Scheme
The European Commission has approved the revised Maltese tonnage tax scheme (exemption) under EU State rules for a period of 10 years, after an investigation and review lasting more than five years.
EU Commission Notices to Stakeholders
On the 8 February 2018, the EU Commission issued two Notices to Stakeholders in connection with the withdrawal of the United Kingdom from the EU, titled "Withdrawal of the United Kingdom and EU rules in the Field of Banking and Payment Services" and "Withdrawal of the United Kingdom and EU rules in the field of …
Regulatory framework in Malta on Blockchain, Distributed Ledger Technology & Virtual Currencies
The Parliamentary Secretary for Financial Services, Digital Economy and Innovation has issued a public consultation document on the 17th February 2018 regulating the proposed establishment of an Authority to be known as the Malta Digital Innovation Authority ('MDIA'),
Social Networks: When are you a consumer?
In Case C-498/16 Maximilian Schrems v Facebook Ireland Limited (nyr, 25 January 2018), the Court of Justice of the European Union (CJEU) had to decide when an individual who uses a social network for different purposes qualifies as a consumer.
SEC and CFTC hearing on Blockchain and Distributed Ledger Technology
Earlier this month the United States Committee on Banking, Housing, and Urban Affairs met in open session to conduct a hearing entitled 'Virtual Currencies:
Sub-Letting of Commercial Tenements After 31st May 2018 – Let it Be!
In terms of article 1531I of the Civil Code, as introduced by the amendments to the rent laws in 2009, a lease of commercial premises made before the 1st June 1995 shall terminate on 31st May 2028, unless a specific period has been stipulated in a contract and subject to the other specific provisions contained in this …
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Amendments to the Guidelines regarding VAT treatment of Yacht Leasing
The Commissioner for Revenue has recently published an amended version of the Guidelines regarding the VAT treatment of Yacht Leasing in Malta.
Postponement of the applicability of the Insurance Distribution Directive
On 14 March 2018, the European Parliament and the Council of the European Union adopted Directive 2018/411 postponing the application of the Insurance Distribution Directive ('IDD') to 1 October 2018.