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Business In Malta

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Smart Contracts – Are We Being Replaced By Machines?

Smart Contracts – Are We Being Replaced By Machines?

We’ve all seen the movies and read the sci-fi books about machines and robots taking over the world. But how close are we to that becoming a reality? Smart contracts are becoming more and more commonplace in our society. Will they replace lawyers, accountants, and other officials completely or is this still just a fantasy?

The Crypto-Currency Revolution and Malta’s Role

The Crypto-Currency Revolution and Malta’s Role

While many national systems are seeking to take action against crypto-currencies by banning them and imposing limiting regulations, Malta is taking a totally different path. Malta is, in fact, currently preparing crypto-currency regulations, being the first country to do so.

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How To Get An Online Loan For Business – Top 6 Methods

How To Get An Online Loan For Business – Top 6 Methods

With the help of technological advancement, online lending platforms have found an opportunity to overshadow the traditional ways of lending. Over time, online lending has been able to become a huge constituent of the powerful FinTech sector. Most small business operators are now able to secure funds online and seeking loans from the bank is not even mandatory.

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Learn How To Build Your Business Credit Successfully

Learn How To Build Your Business Credit Successfully

Any business owner needs easy and reliable access to a cash stream. For some, their own liquidity reserves are sufficient for their needs. Others may find that their liquid cash reserves are lacking or they may be uncomfortable with using them to smooth the day-to-day running of the business. If you fall into this second category, you may wonder, ‘what is the alternative?’. The answer is business credit.

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Business Banking & Borrowing FAQ

Business Banking & Borrowing FAQ

If you are moving your company to Malta, one of the first steps is to settle a bank account and get you banking services in order. Discover what are the most common asked questions encountered by other firms in Malta.

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Vat Registration Types In Malta – Article 10, 11 or 12?

Vat Registration Types In Malta – Article 10, 11 or 12?

The VAT Act governs Malta’s value-added tax. It works hand in hand with its subsidiary legislation, which is concerned with company and individual registration for VAT. As per the law, natural people and legal organisations that carry out economic activities are taxable.

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VAT Rate in Malta and Completing VAT Registration

VAT Rate in Malta and Completing VAT Registration

Value Added Tax (VAT) was first introduced in Malta in 1995 although the system has gone through many changes since its conception. Most notably, was when Malta joined the European Union (EU) in 2004 and the VAT rate was aligned to the rate dictated by the EU’s Council Directive. The current VAT rate is 18% and the tax is paid on most transactions that occur on the island, although some products and services attract a lower rate.

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Tax Refund in Malta on Foreign & Local income

Tax Refund in Malta on Foreign & Local income

The Maltese rates of taxation are amongst some of the most attractive in the European Union. The system adheres to the specific guidelines set by the OECD, is within the jurisdiction of a white listing and has the approval of the European Commission

Understanding Vacation Leave In Malta

Understanding Vacation Leave In Malta

According to local law, all employees working a 40-hour week have a right to 192 hours of paid leave each year. That’s exactly 24 working days of annual leave, or 4 weeks and 4 days, assuming you work 8 hours daily and 5 days per week.

Understanding Social Security in Malta and Health Services

Understanding Social Security in Malta and Health Services

There are several opportunities available for Maltese residents who need to find a house for primary residence. Anyone who lives on government properties or is looking to buy a first house should reach out to the Housing Authority; also, benefits are available to residents who have a disability.

The Probation Period in Malta at the Workplace

The Probation Period in Malta at the Workplace

When one starts in a position of employment they’ll start the probation period with their employer. The employee is then assessed, observed and reviewed by the employer. During this period of time the applicant can be let go without any assigned reason, with one week notice after one month of pay.

Minimum Wage Malta – Pay Rates for 2018

Minimum Wage Malta – Pay Rates for 2018

The National Minimum Wage is the minimum pay rate per week most workers in Malta are entitled to by law. This is the lowest amount a worker can legally be paid for his or her work.

How the Rules and Regulations on Overtime in Malta Work

How the Rules and Regulations on Overtime in Malta Work

Rules on overtime vary by sector and are governed by the Wage Regulation Order (WRO) that applies to the particular activities you are carrying out. If your job or sector is not covered by a WRO, then the default overtime rate is 1.5 times your ordinary pay and will apply to any hours worked over 40 per week.

Work Contract for Service Providers

Work Contract for Service Providers

A work contract to provide services in Malta is also known as an employment contract and it serves as a security device for the employer and employee. It details rules and employment conditions, how to settle disputes and a pledge from the employee to offer services to the employer in return for wages.

Cryptocurrency Taxes In Malta – Bitcoin Trading

Cryptocurrency Taxes In Malta – Bitcoin Trading

The last few years will be remembered as those which saw the introduction of Bitcoin to the general public. Although cryptocurrencies have been discussed in the media for a while, it was only recently that the terminology became commonly used and more importantly understood, by the average person on the street.