Presidet George Vella declared that he does not intend to continue temporarily in the role if there’s no agreement on his successor. Discussions between Prime Minister Robert Abela and Opposition Leader Bernard Grech have stalled, leaving less than a month before Vella’s five-year term ends. While the constitution seemingly permits Vella to stay in office until parliament selects a replacement, he dismissed this possibility when questioned by the Times of Malta.
House opposes EU rules to aggregate tax bases of multinationals
Malta’s parliament opposes the BEFIT proposal to harmonise tax rules for EU companies, sending a reasoned opinion to the European Commission. They argue it infringes on subsidiarity and lacks thorough assessment by national parliaments. The proposal aims to simplify tax compliance for EU multinationals but raises concerns about uneven competition and tax sovereignty. Malta fears adverse effects on its economy and administrative burden. The Institute of Financial Services Providers supports Malta’s stance, highlighting risks to EU businesses. Sweden, Poland, Ireland, and the Czech Republic share similar apprehensions. Malta insists on maintaining tax autonomy amidst EU-wide tax regulation proposals. (Maltatoday)
Hijacked Malta-flagged ship may have been used in attack near Somalia
Somali pirates, suspected in the hijacking of the Maltese Ruen in December, have reportedly seized a Bangladesh cargo ship, signalling a resurgence in piracy after a decade of calm. Evidence indicates the same group boarded both vessels. Despite no ransom paid for the Ruen, 17 crew members remain captive. Another recent hijacking has heightened concerns over maritime safety. Authorities are investigating to tackle the rising security threats. (Newsbook)
