Tax Advice for Your Company in Malta

Malta is one of the most prolific small economies in Europe and the European Union, according to various reports. This is one of the main reasons it attracts a great number of foreign investors who open companies here.

When it comes to running a business in Malta, one must respect the laws of this country and in terms of accounting, the advice of a tax consultant is often appreciated. Our accountant in Malta can help in various tax matters, no matter if you run a small or large business here.

Below, our accountants in Malta present the tax advisory services you can rely on us for.

Understanding how taxation works in Malta

One of the first tax services our accountants in Malta can provide is advice on how the taxation system works in this country and how you can take advantage of all the benefits available.

Based on the tax system, you will be able to make realistic financial projections and even apply for various funding programs with governmental agencies based on the industry you operate in.

As a matter of fact, Malta offers many tax subsidies and funds for existing companies, but also for startup and having a picture on how these work will help you channel your own money to the development of the business, hiring specialists for key positions or other purposes.

Our accounting firm in Malta can also provide you with various services apart from tax advice, many local businesses use external firms for accounting, bookkeeping, and auditing in order to cut costs with the creation of departments that need employees, tools, and financial resources to function.

With a vast experience in various areas of accounting, our Malta tax advisors will offer tailored services to those who own small, medium-sized and large companies in Malta. Also, foreign companies with branches and subsidiaries can ask for tax advice for their companies in Malta.

Tax consultancy services offered by our Malta tax advisors

Accounting is made up of several branches, out of which tax advice plays an important role when it comes to those seeking to improve the economic situation of their companies. You can obtain tax advice for your company in Malta from one of our specialized accountants.

Here are some of the tax advisory services we can provide for you and your company in Malta:

1. a thorough analysis of your company’s financial documents, no matter its size and object of activity;
2. revisal of the company’s main financial goals and proposition of alternatives for improving its activity;
3. execution of financial reports and other accounting documents in accordance with the Maltese legislation;
4. tailored support in preparing for audits and other financial verifications of the Maltese authorities;
5. audit services – our auditors in Malta can conduct audits as requested by the law, as well as independent audits required by the shareholders. The audit of financial accounts must be conducted in conformity with international auditing standards by a qualified individual who is in possession of the necessary permit from the Maltese Accountancy Board. We are at your disposal with complete audit services in Malta.
6. tax consultancy for foreign companies with branches and subsidiaries in Malta and which need to comply with the local and international laws;
7. tax calculation and tax return filings, as well as tax optimization solutions, in accordance with the law;
8. international tax advisory services for foreign investors interested in setting up operations in Malta;
9. financial due diligence services for those interested in mergers and acquisitions in Malta.

It is quite common for foreign investors setting up businesses here to request the services of accounting firms in Malta for a better understanding of the national tax system. All our accountants are CPA Malta authorized so that you can rely on specialists to offer tax advice for your company.

Assistance provided by our accountants in Malta

Relying on the advice of a specialist is of key importance when entering the Maltese market. This is why we are prepared to offer specialized, but most of all, personalized tax advice for you and your company in Malta.

The first service you can rely on our accountants in Malta for is understanding the tax system of this country which is slightly different than those of other European countries. This is because it relies on an imputation system which allows for most of the taxes to be deducted. Our Malta tax advisors can help you understand how the local taxation system and works and can also prepare and file the documents which help you obtain the so much wanted tax deductions offered by the Maltese tax authorities.

Our tax advisory services are completed by other accounting services in Malta, such as tax planning, professional bookkeeping services in Malta.

We also provide all the needed audit services in Malta.

Tools for time tracking and automated payroll in Malta can drastically cut down on this time. The majority of payroll processing software calculates taxes for you, which could take hours to complete by hand. However, such a program can also be quite expensive. This is one of the reasons for which you can choose to work with our accounting firm in Malta.

Why choose a tax advisor in Malta?

As specialists in the accounting field, tax advisors are always up to date with all the changes made by the Maltese legislators and many local companies ask for tax advice for their companies including when they have their own accounting department. Apart from these, asking for an independent opinion from someone who does not work in the company can lead to a boost in the business’ activity, higher returns and a clearer picture of the overall business direction.

With years of experience behind us, our accountants and auditors in Malta can offer competent tax advice for your company. 

What are the qualifications of a Maltese tax advisor?

A financial specialist with advanced training in tax accounting and tax law is a tax advisor. The assistance of a tax counselor is typically sought out in complex financial situations in order to reduce taxes due while maintaining legal compliance. Certified Public Accountants (CPAs), tax lawyers, enrolled agents, and some financial consultants are examples of tax advisors.

A tax advisor is a financial expert who offers suggestions on how to reduce taxes due while adhering to legal and regulatory requirements.

Tax advisors might have backgrounds in accounting, law, or financial planning, or they might form a team with one or more other sorts of experts.

Regardless of their level of education, tax consultants are knowledgeable about tax law and both Tax Department and state tax regulations.

Our accountants in Malta enter the category of CPAs who can offer tailored support for small, medium, and large-sized enterprises.

Company financial analysis and audit services in Malta

Running a business in Malta implies a lot of work that will require your full attention, which is when it comes to ensuring that from a financial point of view everything is in the order you can rely on the services of specialists in this field. Our accountants who are accredited by CPA Malta can be your guide through the financial aspects you would need to deal with.

We can offer personalized financial advice after a thorough analysis and audit of the business’ financial statements and accounts are completed. Based on what these reveal, we can propose various measures that will enable your company to enhance its performance. Furthermore, we can come up with cost-cutting solutions that will improve the company’s overall profits by reducing the losses.

We can also prepare a tailored financial plan based on an analysis and audit of:

• the annual income statements that will be relevant when the revenue and expenses are verified;
• the balance sheet which will provide a clear picture of the assets and liabilities of the company;
• the cashflow statement which indicates the balance between the incoming and outgoing amounts of money.

Based on these documents, our accountants and auditors in Malta will be able to show you if and where financial losses are recorded, the assets that can add value to your business and how to minimize your costs.

You can consider drafting a financial plan right before starting a new company, case in which our specialists will be by your side from the beginning, however, our tax advice services also target companies that have been on the market for a while and want to reinvent themselves or simply improve their profits and financial standing. Whatever the case, it is never too late to ask for specialized advice when it comes something so serious that can help you better position your business on the market.

You can also rely on our auditors in Malta for financial audits that can provide you with an accurate picture of your company’s real financial situation. Based on these, you can start working on the improvement of its activities.

Tax consultancy for foreign companies in Malta

Malta is one of the most prolific small economies in the EU and its Gross Domestic Product (GDP) is also influenced by the large number of foreign companies operating here. One of the best-known reasons why foreign single investors and enterprises choose Malta is taxation which even if it has a high corporate tax rate, can be significantly reduced through the unique rebate system.

In order to benefit from these tax reductions, foreign companies can use our tax advice and planning services in Malta that can help them gather and submit all the documents necessary to prove they qualify for these reductions. What should be noted is that these reductions are available outside the tax minimization solutions that can be employed to reduce the taxes paid.

Double tax treaties are another important aspect foreign companies need to deal with when these exist between Malta and their countries of origin. However, in order to not pay a tax twice, various documents need to be prepared both in Malta and in the country of residence. Our accounting firm in Malta can handle the documents to be filed with the local authorities in our state.

We can then propose tax planning solutions, but we can also offer bookkeeping and accounting services in Malta for those who are first-time businesspersons here.

Relying on experienced accounting firms in Malta is not unusual, and you can use our experts as an example that has been on the market for several years now.

Support in accessing incentives in Malta

Since there are so many incentives available, choosing the best ones is crucial and can help with effective tax planning offered by your advisor. The important factors to think about from this perspective are listed below:

• making the right choice is crucial because some taxpayers must choose between applying for one incentive and another;
• it’s also crucial to ensure that one satisfies all requirements imposed by the government or agency providing the tax benefit;
• some incentives are available to non-resident entities, while others are only available to domestic businesses.

Being informed of all the changes and opportunities from a financial standpoint in a dynamic business climate like that of Malta can also result in effective tax advice for a company.

Companies are the entities that profit the most from tax optimization because the Maltese authorities provide numerous incentives to businesses operating here. However, a few conditions must be satisfied in order to be eligible for them. These are very strict, thus getting a specialist’s or a team of accountants’ help is essential for effective tax preparation in Malta.

Our accounting firm in Malta is at the disposal of domestic and international investors who seek to increase their earnings by utilizing the legal avenues made available by the tax authorities. We can do an in-depth study of your financial records as well as other factors that may have an impact on the rewards you can receive for this.

Working with a Maltese accountant can be quite helpful in avoiding bureaucracy because they will prepare everything you need to get the benefits you are entitled to.

A tax advisor can help you avoid tax penalties

Business owners in Malta can avoid tax fines by adhering to the Income Tax Law’s rules and regulations. This booklet outlines the essential requirements for preparing and submitting tax returns. However, doing business often makes owners forget about the deadlines for filing tax returns, even if they are aware of that. This is where a tax advisor can be of help. He or she can efficiently assist in meeting these deadlines, especially when acquainted very well with the respective business.

Any type of Maltese company, whether it be a major organization or a small or medium-sized business, needs to have effective accounting. It is a crucial procedure for both the internal operations of the business and for external interested parties, such as shareholders. Potential new shareholders and creditors will be more interested in a company with a solid track record of financial performance.

A Maltese tax advisor can be a safety net that keeps your business afloat with tailored services you can choose from.

Why invest in Malta?

Malta is for several years now one of the most appealing investment destinations in Europe. With an economy that relies more on tourism and services, however:

• the real GDP (Gross Domestic Product) growth registered by Malta in 2018 was 6.2%;
• Malta is expected to register a 5.2% economic increase in 2019, according to the European Commission;
• private consumption triggered a slight increase in inflation which is expected to reach 1.9% in 2020, however, it will remain one of the lowest in the EU;
• the Commission also projected a 6.4% economic growth for Malta in 2020.

For complete tax advisory and accounting services in Malta, please contact us.

Well-managed payroll provides security, raises trust, and fosters loyalty. Payroll management should be handled by a dedicated individual or department, ideally with excellent software, or by a bureau if the company chooses to outsource the task. Paying employees’ salaries accurately and on time is not only required by law, but also the responsibility of a company to its employees. For these reasons, you can rely on us for payroll services in Malta.