650 Malta-based firms to be impacted by minimum corporate tax / Malta News Briefing – Wednesday 29 March 2023

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Updated 1700

The Times of Malta shares details of the launch of the Malta International Airport’s summer flight schedule featuring 100 routes servicing 32 countries.

Maltatoday reports that Parliament will start debating Domestic Violence Prevention Bill. It says that the Bill seeks to give people the chance to verify whether their prospective partners have a history of domestic violence.

Newsbook says that the landlords of a property hosting the Labour Party social club in Valletta have filed an application before the First Hall of the Civil Court claiming that their rights have been breached.

The Malta Independent says that he Nationalist Party has denounced the lack of funds available for the police force, leading to people worrying about levels of safety in the country, and called once more for the resignation of Attorney General Victoria Buttigieg because of her inaction following the court’s decision in the Steward case.

Updated 1230 – Mid-Day Briefing

650 firms to be impacted by minimum corporate tax: More than 650 companies in Malta are churning a turnover exceeding 750 million euro, and these will be therefore impacted by the EU’s drive towards a minimum level of taxation. This was revealed by Finance Minister Clyde Caruana, who added that these firms employ over 20,000 employees. Caruana added that despite US hesitancy, the EU is pushing for the implementation of minimum tax by next year. Despite this, the Maltese Government is not planning to levy this part of the tax from next year. He further indicated that the Government would be opening a line of communication with the European Commission to make a case for the gradual introduction of a wider corporate tax reform which would apply for the next two decades.

National Strategy for Financial Services launched: A financial services jurisdiction that is competitive, secure and credible. These are the three key objectives being sought out by the newly-launched financial services national strategy, launched by the Malta Financial Services Advisory Council (MFSAC), following input from both the industry and regulators. The core principles supporting this vision are anchored around speed, standards, simplification, specialisation and sustainability, considered as critical for Malta to leapfrog o the next generation service offering in this industry.

Survey shows small majority favouring abortion when mother’s life is at risk: Malta’s population is marginally in favour of abortion when the mother’s life is at risk but the majority of people do not believe it is acceptable under any other circumstance, according to a survey commissioned by Times of Malta. The survey found that a third of the public supports abortion when the mother’s health is in danger, whilst just over a quarter believes that it should not be allowed under any circumstance. As expected, the survey shows a stronger support for abortion among the younger cohort. A revised version of the amendment is set to be presented to parliament shortly, following changes to its wording.

Morning Briefing

Keith Schembri distances himself from Electrogas deal, says Konrad Mizzi was go-to person

Former PM’s Chief of Staff Keith Schembri sought to distance himself from the Electrogas scandal, insisting that he only played a peripheral role in the Electrogas deal, learning of progress through updates given to cabinet but otherwise uninvolved. Replying to questions by parliament’s Public Accounts Committee, Schembri insisted that it was Konrad Mizzi, who was politically responsible for overseeing the power station project, who was in contact with the relevant shareholders. Schembri insisted he never met Yorgen Fenech or other Electrogas directors to discuss their bid for the project, save for a single meeting in which he (Schembri) acted as an observer. (Times of Malta)

Aware of increased drug use, Govt launches consultation on new policy

Government has launched a document for public consultation on drug policy, aiming to strengthen the government’s policy and reflect today’s realities. During a press conference, Minister for Social Policy and Children’s Rights Michael Falzon launched the document, which will have a public consultation period of five weeks, during which the public, individuals who have had drug problems, or those working in the sector, will have the opportunity to share their experiences and provide recommendations. This consultation document includes a number of proposed actions that can help reduce drug supply and demand while improving the legal framework. It also proposes drug testing for drivers to check if they are under the influence of drugs. (The Malta Independent)

Traffic casualties up by a third

Traffic casualties in 2021 increased by 32.9% over the previous year, fresh data on transport issued by the National Statistics Office shows. The number of reported traffic accidents in 2021 increased by 2,185 over the previous year, reaching 14,135, with 35.3% of these accidents recorded in the Northern Harbour district. The figures also show that injuries sustained by five drivers and four pedestrians proved fatal. (Maltatoday)

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