LexPractis Logo

Tutta Fuffa e Niente Arrosto

Dated: [bxcode.pagedata.date]

Further to the supposed revelations of the Malta Files, an interesting article which appeared in the Italian news portal  Mercati 24 tackled and commented upon the issue.

The link to the article is this :

https://www.mercati24.com/malta-files-tutta-fuffa-e-niente-arrosto/

Hereunder is a brief summary of the main gist of this article :

An international group of media outlets began publishing stories about the so-called Malta files. The said articles claim that Malta works as a pirate base for tax avoidance inside the EU.

However is this really the truth? Is Malta really a tax haven within the European Union? And is it possible to keep secret the money held in Malta? The truth is that the investigation made by the international group of media was nothing but a scam.

Malta is not a tax haven and fully participates in the exchange of financial data and tax: in practice, it is technically impossible to conceal any money held in Malta from tax authorities since an investigation may be conducted in an efficient and timely manner.

The truth about Malta

Although Malta is not a tax haven one can still do business and pay the right amount of tax. This is the reason why tens of thousands of Italians and Europeans have chosen Malta as their destination to work  or to set up their own business. Many young people with high potential have moved to Malta not only attracted by the amount of tax to pay but also by the amount of work one may find here on the Island. Although it is very easy for one to open up a business here in Malta, one cannot say the same when opening a bank account. The Maltese banks investigate their customers  very carefullybefore allowing anyone to invest in their banks. The amount of KYC procedures and due diligence is high.

Malta is the center of a flow of capital from all over Europe and beyond. But above all it is the preferred destination for strategists and skilled workers. Now-a-days, these strategic brains are the most important element for economic growth.

We live in a Europe which is united economomically and therefore if a european country invests in another than this should be considered as normal and not as a way of avoiding to pay tax.  The basic reason why the international group of journalists might have come up with such a scam is for the simple reason that Malta attracts money and intelligent strategists from all over Europe (and beyond).

Contact Details

LexPractis, 98 Archbishop Street, Valletta, VLT 1446, Malta, Europe
Office: +356 2122 1030 | +356 2122 1130
Fax: +356 2122 1002

AIEL LogoAITC logoCOA LogoELG LogoIFSP LogoMIM Logo
2017 © LexPractis Law Firm Malta, Europe. All rights reserved.
Privacy & Cookie Policy | Disclaimer
LexPractis uses cookies to ensure you get the best experience. Learn more
Got It