The Peer Review Report on Malta undertaken by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes in October 2013 has confirmed that Malta’s tax system and practices are in conformity with international standards of transparency and exchange of tax information. The International Tax Unit within the Inland Revenue Department is the Maltese body entrusted with Malta’s exchange of information responsibilities.
Malta’s legal framework ensures that the competent authority has direct access to information concerning ownership, accounting and banking as required by the OECD, as well as broad access powers to collect additional information requested for the exchange of tax information. What is more, internal administrative guidelines ensure a streamlined process and timely response. This regime is complemented by adequate rights and safeguards compatible with effective exchange of information, which protect the confidentiality of the information received.
Malta has exchange of information mechanisms in place with 82 jurisdictions, covering all relevant partners. Furthermore, in October 2012 Malta signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
