Company law

Maltese Cryptocurrency Tax

Digital currencies such as bitcoin, have made a lot of buzz in the media over the past few years. However, it is only now that these cryptocurrencies have begun to be understood by ordinary citizens let alone to be trusted. Malta has not chosen to fall behind in accommodating the new currency. The state already set up a tax scheme for revenues that involve cryptocurrency investments.

Maltese Value added tax (VAT)

Value added tax is the tax that is charged progressively according to the increase in product value. It is important to note that all entities in Malta, partnerships included and natural persons are obliged to register with the VAT office in order to comply with the Maltese VAT legislation of 1998.

Maltese Economic Operators Registration Identification (EORI)

The EORI is a system that was designed with a mandate to make the identification of traders who interact with the Authorities much easier. This was done for all states in the EU and it involves the assignment of a reference number to each trader who is considered to do business wherever in the EU region. Thus business people can be identified in any member state through this unique number. This identification system, allows authorities of EU to share information with other entities. The EORI system also solved the problem of reference number mix-up whereby traders often registered their businesses too many times — by linking reference numbers with VAT numbers. This saves everyone extra work and time needed to adjust the systems constantly.