Multinational companies and native entities looking to establish an eatery-based enterprise in Malta are spoilt with a large variety of aesthetic and tourist-friendly locations. Entrepreneurs planning to delve into this lucrative industry can pick one of the following closely related commercial variants to conduct business activities.
Technology is impacting every industry and the banking sector is no exception. One of the most innovative developments so far is digital currency — popularly known as a cryptocurrency. Digital money solutions are increasingly gaining a lot of popularity especially when it comes to online transactions. They are also a very lucrative business venture to invest in — especially in a digitally savvy country like Malta.
Double taxation often crops up for companies doing business internationally and can be such a headache to the modern business world. Maltese citizens contemplating of doing business in Switzerland and Swiss citizens who want to do business in Malta vice versa will be relieved to know of the June 2012 standing treaty that prevents double taxation for legal entities carrying out taxable activities in either of the two states.
Although Malta and Russia have a long history of bilateral relations, they did not conclude a double taxation agreement until the 24th of April 2014. The treaty was signed in an effort to avoid double taxation as well as to prevent fiscal evasion in regards to taxes on capital and income charged on companies conducting business in the two countries. It came into effect on the 22nd of May 2014.
After several meetings between the Maltese and British plenipotentiaries, the Double taxation agreement between the two countries was finally concluded and it came into effect on the 27th of March 1995. Their goal was to provide double taxation relief and make business easier between Maltese and British nationals.
Malta first agreed on a double taxation agreement with the USA in 1980 but due to changes in their tax model, the deal could not last through 1997 after their collaborator pulled out. Almost a decade later, the two signed yet another pact in 2006 which this time was framed based on the US tax model. This deal went into effect the following year although it was subject to further improvements which came in 2010. Of more significance was the facilitation for fighting tax evasion that made the greater worth for this change.