Source of Wealth and Source of Funds are terms that refer to the information that helps subject persons identify the ML/FT risks associated with a client as well as helping subject persons to build a customer profile based on the information. The scope of this information capture is to meet obligations established by law and […]
The Measures and Support Division within the Ministry for the Economy, European Funds, and Lands has launched a scheme for the digitalisation of micro businesses. This incentive is specifically designed to assist microenterprises through non-repayable Grants to part-finance investment to digitalise their operations. Eligible investments are: Commercial Off-The-Shelf (COTS) Hardware (such as Laptops, Docking Stations, […]
The impacts of construction activities on environment are various. This measure aims to support investments that reduce the negative impact of construction activities by facilitating the reduction in volume of construction waste, control of dust emission and replacement of equipment. This measure is open to businesses engaged in construction activities, including the processing and disposal […]
The Equipment and Machinery SME Grant Scheme seeks to support investment in equipment and machinery aimed at directly improving the productivity of the enterprise. Such investment can be aimed at expanding, diversifying, and/or innovating the operations, and by supporting initial investments. This scheme is funded through the European Regional Development Fund and will part-finance 50% […]
The Recovery and Resilience Plan (RRP) for Malta addresses the need for a strong and immediate recovery. Reforms and investments in the plan are aimed at making Malta more sustainable, resilient, and better prepared for the challenges and opportunities of green and digital transitions. The Measures and Support Division, within the Ministry for the Economy, […]
Cost of Living AdjustmentFull Timers: Eur 9.90 per weekPart Timers: Eur 0.25 per hour Minimum WageAged 18 years and over – € 192.73 per weekAged 17 years – € 185.95 per weekAged below 17 years – € 183.11 per week Public & National Holidays for the year 2023: Vacation Leave EntitlementAn employee with a 40-hour working week is […]
The short answer to this question is that under Maltese law, all companies are required to prepare a set of audited financial statements, the full answer, however, is slightly more complicated.The primary objective of an audit engagement is for an opinion to be expressed on the presented financial statements of a company reflecting the results […]
The DFK Malta office will be closed for business between the 26th of December 2022 and the 2nd of January 2023 (both dates included) Merry Christmas from the DFK Family! May Peace and Joy fill the coming year!
In the Budget for 2023 which was presented by the Minister of Finance and Employment Clyde Caruana on 24 October 2022, the Government has renewed its social and economic emphasis in light of the recent challenges brought about by the increasing inflation, in particular the increasing energy costs in the EU. During his speech, the […]
The new Malta Enterprise Invest scheme aims to sustain the regional industrial and economic development of Malta by facilitating initial investments through the setting up of new establishments, expansion of existing facilities, and diversification of existing businesses. Support may be awarded through loan guarantees, interest rate subsidies, cash grants, and tax credits. The support is aimed […]