15% tax rate would impact up to 20 of Malta’s largest employers / Malta News Briefing – Tuesday 30 November 2021

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Latest Update- 1745

Times of Malta says an assessment of Malta’s anti-money laundering regime today by Moneyval would see the country pass with flying colours, FIAU director Kenneth Farrugia said on Tuesday.

MaltaToday says the director of law courts can solely determine if person has “valid grounds” to have court judgement deleted from public website

Newsbook says Opposition MP and Caruana Galizia lawyer Jason Azzopardi has described the psychological toll caused by a stream of anonymous letters he had received over seven years.

TVM says Sterling Group, who imports and locally manufactures jewelry, inaugurated a new €4-million investment factory at San Ġwann industrial area. 

Mid-Day Briefing

15% tax rate would impact up to 20 of Malta’s largest employers

Almost 20 large foreign companies will have to pay up to three times as much tax than they do now if Malta introduces a new minimum corporate tax rate in 2023. Government sources said that between 18 and 20 international companies, which employ thousands of people in lucrative industries such as gaming and corporate services, could see their tax exposure
increased from five to 15 per cent.

This would come into force in January 2023, when Malta is expected to be forced to adopt a global minimum tax rate imposed by the Organisation of Economic Cooperation and Development (OECD). (Times of Malta)

Covid-19 Update: A total of 106 new daily cases were reported today while 54 people recovered. 12 people are being treated in hospital, 2 of whom are in the ITU.

Morning Briefing

Protestors call for Speaker’s head after handling of Cutajar ethics breach

Protestors gathered outside parliament on a chilly Monday evening to protest against Speaker Anglu Farrugia’s behaviour and the weak handling of Labour MP Rosianne Cutajar’s ethics breach, requesting the resignation of both. Protesters carried protest placards reading ‘Speaker without a spine’, ‘Yorgen Fenech’s broker in parliament’ and ‘The Mafia’s tentacles in parliament’, among others. In an address to those present, rule of law group Repubblika, said that ”our institutions cannot keep serving and sucking up to corrupt and criminal people.” (Times of Malta)

Opposition demands Standards Committee overhaul, Government reacts

The Opposition called for a radical overhaul of the Standards Committee, which should not be chaired by the Speaker.
Bernard Grech accused the Speaker of undermining parliamentary standards saying that legal letter to Matthew Caruana Galizia was “unacceptable” in a democratic society. Speaking in Parliament, Grech said the parliamentary Standards Committee should have five members – an appointee by the Prime Minister, an appointee by the Opposition leader, and three members approved by a two-thirds majority in parliament with the chair appointed from these three.
Grech was speaking after presenting a motion on Monday requesting an urgent debate without vote to discuss Speaker Anglu Farrugia’s behaviour. Farrugia recused himself and Deputy Speaker Claudette Buttigieg presided the sitting.

Reacting, Prime Minister Robert Abela said the Government respects the institutions even when it doesn’t agree with their decisions. He mentioned that he accepts the ruling given by the deputy Speaker. He added that the Government strengthened Parliament with the appointment of the Commissioner of Standards in Public Life, which he said one cannot say that he favours the Government. Dr Abela argued that the Opposition wants to censure the Speaker because he acted according to the law and took the casting vote for the adoption of the report on Rosianne Cutajar, who was already sanctioned when she resigned as parliamentary secretary. (Maltatoday/TVM)

Covid-19 Update: 95 new cases were reported on Monday, while recoveries reached 39. Active cases continued to rise, and now stand at 1136.

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