16.01.2024 Running a business is a challenging task, regardless of its structure, whether it’s a company, a partnership, or a sole proprietorship. It involves numerous ups and downs, with both gratifications and obstacles. Consider, for instance, the unexpected impact of the COVID-19 pandemic, which has presented various challenges and headaches for everyone. Questions like, “How…
09.01.2024 Malta is known for being a favourable location for company formations due to its strategic location, tax benefits, and business-friendly environment. Malta has a well-established legal framework that governs companies and business activities. Compliance with regulations, including anti-money laundering (AML) and know your customer (KYC) requirements, is essential. Malta is known for its attractive…
14.12.2023 Setting up as a self-employed individual can have several benefits. Some general advantages are the flexibility this setup offer. Being self-employed often allows for greater flexibility in terms of working hours and locations. You have more control over your schedule, which can be particularly beneficial for those who prefer a non-traditional work structure. As…
05.12.2023 VAT compliance is an obligatory element of operating a business. Not meeting your VAT compliance obligations can result in hefty penalties and fines, late interest imposed by authorities, reputational damage, bad press, and in some instances, business closure. Many think that VAT compliance consists only in registering for a VAT number and file quarterly…
15.11.2023 A well-crafted business plan is essential for a business to succeed for several important reasons. A business plan forces you to define your business’s mission, vision, and goals. It helps you clarify what you want to achieve and how you plan to get there. This clarity is crucial for guiding your actions and decisions.…
31.10.2023 Yesterday the Budget Speech 2024 was delivered by the Finance Minister, Clyde Caruana. In this article you will find a summary of the Budget 2024 in relation to the economy, the working force, employment, cost of living adjustment, taxation, grants and incentives for businesses and industry updates. Fairwinds Management Limited is a MFSA licensed…
18.10.2023 In the dynamic landscape of modern business, maintaining accurate and up-to-date financial records is more than just a regulatory requirement – it is a fundamental pillar of sustainable growth and success. This is particularly true for businesses operating in Malta. With its strategic location, favourable tax regime, and robust business environment, Malta offers an…
27.09.2023 In an effort to support and foster the growth of small and medium-sized enterprises (SMEs) and self-employed individuals, Malta Enterprise introduced the MicroInvest Scheme. This initiative aims to empower micro-enterprises by providing them with a tax credit based on their eligible investments. With the goal of facilitating business expansion and improvement, the MicroInvest Scheme…
13.09.2023 Your guide to seamless accounting and administration Are you considering taking the exciting leap into self-employment in Malta? Being your own boss and pursuing your passion is an exciting journey, but it comes with its fair share of challenges, particularly in the realm of accounting and administration. Fortunately, you don’t have to navigate this…