26.04.2022 Why is good accounting important for startups? As a new business owner, you will want to focus on selling your goods, or services, and get your brand out there to stand out from competition. However, bookkeeping and accounting are also very important, particularly for startups. Accounting is considered to be the language of business,…
19.04.2022 An audit is a type of assurance that is carried out by an independent auditor who is no way connected to the company and is requested to give an independent opinion on the financial statements of the company. Maltese companies are required to appoint independent auditors registered with the local Accountancy Board and the…
12.04.2022 Every resident in Malta is obliged to submit a personal income tax return once a year. This is valid for anyone who lives and resides in Malta, no matter if you are employed or unemployed, a freelancer or retired, you must submit a tax return by June 30 of every year, for the previous…
05.04.2022 Setting up and running a successful company requires several obligations to be met from the very first steps of incorporation, to ensure that it is incorporated according to national regulations. This article gives a general overview of what is expected from companies, what will happen when they fail to do so, and how our…
29.03.2022 Payroll outsourcing is when a company, or a self-employed individual, employing personnel, uses a third-party service provider to prepare payroll for the employees. Payroll tasks are not simply an automated process, but it involves many aspects from base salary, monthly adjustments, fringe benefits, allowances and bonuses, Social Security Contribution (SSC) / National Insurance (NI), and…
22.03.2022 Company administration is very important to have your Malta company running smoothly. When we say company administration, we mainly refer to the following important tasks, many of which are obligatory as part of compliance of Maltese-registered companies. Organisation of board of directors meeting/drafting of resolutions Organisation of annual general meetings Company annual returns Company…
15.03.2022 During these times employing someone has become an arduous task since there is little workforce available locally. If you are an employer seeking to recruit you know this very well. If you are looking into employing Third Country Nationals (TCNs), you also know this could be a headache for you especially if you do…
08.03.2022 Traditional banking is outdated, and Electronic Money Institutions (EMI) are taking charge in the modern business world. The global financial system has changed thanks to the phenomenal growth in digitalisation, fusion of technologies, embracement of technology and ultimately establishing new trends. In reality, you can open as many business bank accounts as you want,…
01.03.2022 The Malta Enterprise runs a scheme to act as a tax credit incentive for micro-enterprises and self-employed businesses. This is called MicroInvest. The ultimate aim of the MicroInvest scheme is to encourage undertakings to invest, innovate and expand the business. If you run a small or a medium-sized enterprise or self-employed, you might be…
22.02.2022 The economic growth is set to regain traction. Recently the European Commission has issued the Winter 2022 Economic Forecast report which projects that, following a notable expansion by 5.3% in 2021, the EU economy will grow by 4.0% in 2022 and 2.8% in 2023. As background information it is to note that the Winter…