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Tag: #Malta

Gambling Reform in Malta

Published: Olena Vydysh | 27.10.2017 | blog

After conducting a series of consultations with the public and interested persons, technical studies and assessments of the financial and economic consequences, the Government of Malta intends to carry out a full reform of the current legislative framework regulating gaming activities.The proposed reform implies the abolition of all current legislation regulating gaming, and the introduction of a single law - the Gaming Act. The law will enable the competent minister to publish the rules and also give authority to the relevant regulatory body (Malta Gaming Authority - hereinafter “MGA”) to publish the Directives and other regulations if necessary, thereby ensuring timely and flexible interventions, especially with regard to technical specifications and processes.Within the framework of optimizing the supervision and modernization of the existing gaming infrastructure, the main state priority in the gambling sphere will be the flexibility of the regulator in the decision-making process and the reduction of the unnecessary regulatory burden, as well as the simultaneous strengthening of supervision in the spheres of the highest risk.One of the main changes in the course...

Malta made changes in law regarding tax credits

Published: Olena Kamenetska | 04.09.2017 | news

Since the beginning of this year, Malta has issued a number of official notices, providing for the changes in the law regarding tax credits. Thus, the Official Notice No. 140 amended the Regulations on Tax Credits for Micro Enterprises and Private Entrepreneurs (Tax Credits for Micro Enterprises and the Self-Employed Regulations). In accordance with the revised provisions, the definition of "eligible costs" now includes family enterprises in the definition fixed by the Family Business Law. Yet, a clause was added to the Regulation, according to which since 2018, the family business can be granted a tax credit for an amount not exceeding 50,000 euros. The loan must be used during any 3-year...