Tax Network says Malta caused substantial financial losses from corporate tax exploitation
The UK-based Tax Justice Network said that Malta caused substantial financial losses to other nations due to corporate tax exploitation, amounting to billions of euros over a three-year span. Between 2016 and 2018, a recent analysis by the UK-based Tax Justice Network highlighted that due to cross-border corporate tax exploitation facilitated by Malta, other countries faced significant losses, estimated at approximately $2.9 billion. This positioned Malta in 34th place among 174 countries assessed for the damage imposed on other nations. The analysis revealed a stark surge in the financial harm inflicted by Malta on other countries from 2016 to 2017, soaring from $75 million to $1.7 billion—a more than 20-fold increase. The subsequent year saw a decrease to slightly over $1 billion.
Man dies in Zejtun traffic accident
A man tragically lost his life in Zejtun after he was involved in a traffic accident this morning. The accident happened at around 07.45am in Triq Tal-Barrani when the 47-year old Qrendi victim was hit by a Toyota Vitz that was being driven by a 26-year-old man, resident in Naxxar. (TVM)
MUT-Government meeting “inconclusive” – Union
The meeting between the Malta Union of Teachers (MUT) and the government on Monday, aimed at improving teachers’ wages and preventing a planned strike, did not yield conclusive results, according to MUT’s head, Marco Bonnici. Bonnici stated that the government acknowledged the necessity of improving the financial package for teachers. However, he described the meeting as brief and inconclusive, noting that another session is scheduled to take place at the end of the week. “We made it clear from our end that we are seeking an enhanced financial package. The government, on its part, acknowledged the need for improvement, but the specifics of how this improvement will be implemented require further discussion,” he explained. Both parties are set to reconvene for a second meeting towards the conclusion of this week.
Cruise ship passengers increase by 55% in summer
The third quarter of this year witnessed a notable surge of 55.8% in the number of cruise ship visitors to Malta compared to the corresponding period last year. National data reveals a total of 108 cruise liner arrivals between June and September, reflecting an increase of 11 compared to the figures from 2022. Transit passengers constituted the majority, making up 83.6% of the overall traffic, totaling 291,216 individuals. On average, each ship docking in Malta accommodated 3,225 passengers, indicating an increase of 921 passengers per vessel compared to the preceding year. Of the total traffic, passengers from EU Member States represented 59.6%, with Italy and Germany emerging as the top contributors to this demographic. (Times of Malta)
Government to invest in energy storage system in Marsa
Marsa is set to become the location for a battery energy storage system with an investment estimated to reach €47 million investment. Addressing a press briefing at the site of the old power station in the same locality, Energy Minister Miriam Dalli highlighted that the area, which once generated energy through sources like coal and heavy fuel oil, will be transformed into a large-scale energy storage facility using on-land batteries equipped with advanced technology. Dalli added that this investment will be implemented both in Marsa and at the Delimara power station. (TVM)
Man indicted over Marsa double murder
The Court of Magistrates has ruled that there is a case to be addressed in the matter of Iddirsu Faisal, the individual accused of the brutal double murder that occurred in Marsa last month. Faisal, a 34-year-old plasterer from Ghana, faces charges related to the killings of 73-year-old Joseph Bartolo and 56-year-old Carmen Abela, along with the attempted murder of another woman from Nigeria at a Marsa stable owned by the victims on October 15. Additional charges against Faisal include causing serious harm to the same Nigerian woman, inflicting minor injuries on another Nigerian man, as well as offenses such as resisting arrest, damaging private property, disobeying lawful police orders, and causing slight injuries to a police officer. (Maltatoday)