VAT Package 2010

The New Year 2010 will herald a number of significant EU changes to VAT rules, referred to as the VAT Package. Much has been said about the significance of the VAT Package, but in essence the changes will affect businesses rendering and/or receiving cross-border services (both intra-group as well as to/from third parties). If not already tackled, the changes - which take effect as from 1 January 2010 - should be an immediate priority of these affected businesses.

Budget 2010 - Fiscal Measures

In this year’s Budget Speech, the Finance Minister announced a number of fiscal measures, including initiatives that promote research and development, investment and environmental protection. Of particular significance is the unveiling of a process of consolidation of the Maltese revenue authorities, the tightening of anti-abuse provisions and the ban of income tax and VAT refunds to taxpayers who are not compliant with their return filing obligations.

Budget 2010 - Economic and public finance highlights

When presenting the Budget for 2010 yesterday evening, the Minister of Finance described 2009 as a difficult year with huge challenges. Whilst noting that the worst of the crises is over and that the rate of economic growth will continue to recover slowly, he emphasised that there still exists considerable economic uncertainty.

Building Trust in Regulation

Trust is the glue that holds relationships together but also the lubricant that keeps things moving. This study from the Economist Intelligence Unit, commissioned by KPMG International examines the current state of trust between regulators and the industries they regulate around the globe.