As from 2020, groups of companies may vote among themselves to be considered as one fiscal unit in terms of the Income Tax Act. As a result, they would file only one income tax return with respect to all the companies forming part of that fiscal unit. This new fiscal incentive brings significant cash flow advantages for groups of companies set up in Malta.

There are many interpretations to these increases, but when one analyses the figures in greater detail, we noticed that there were a number of one-off rises which had a disproportionate impact on the index over the last year. These included, the price increases of dairy products and bread which also carry a heavy weight on the total index.

Similarly, to other countries such as Australia, Canada and the Czech Republic, Malta has chosen to make it legally permissible to possess medical cannabis which is prescribed by a qualified medic. However, the use of cannabis for recreational purposes remains prohibited.

Our Companies Act provides that a company may only issue new shares against a consideration which consists of ‘assets capable of economic assessment’. This may consist of cash or other assets, whether tangible or intangible, movables or even immovables. This applies either during the incorporation of a new company or at a subsequent increase in share capital. However, not all assets which are capable of economic assessment are allowed by law to be a means of consideration for shares.

In Malta most local businesses are family owned and manage. Many of the businesses are passed from one generation to the next. A relatively small percentage of businesses make a successful transition to the next generation. The reasons why so few transitions succeed are varied. Internal family differences often play a major role in the demise of successful businesses.

Internet security may likely not be a top priority when running your business but neglecting the dangers could be costly while also causing a substantial dent to your reputation. To place the threat in real terms, hackers launch an attack every 39 seconds.