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Published:
28.2.2018
Last Updated:
25.7.2024

OECD publishes updated Harmful Tax Practices Progress Report

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Summary

OECD publishes updated Harmful Tax Practices Progress Report on Preferential Regimes

cONTINUE rEADING

Harmful Tax Practices Progress Report

On the 8th of February 2018, The Organisation for Economic Co-Operation and Development (“OECD”) announced further developments in the implementation of Base Erosion and Profit Shifting (“BEPS”) policies in relation to Country-by-Country reporting (BEPS Action 13) and the Forum on Harmful Practices (BEPS Action 5). In relation to the latter, the Inclusive Framework on BEPS approved updated results of reviews of preferential tax regimes. 

 

In relation to Malta, the OECD announced positive developments with regards to Malta’s intellectual property and shipping regimes. The progress report notes that Malta abolished its Patent Box regime by announcing the closure of this scheme in June 2016. 

 

Malta - OECD Harmful Tax Practices Progress Report

Meanwhile, the report also confirmed Malta’s tonnage tax system’s status as ‘not harmful’. The OECD acknowledged that substantial income generating activity in the area of shipping is performed in transit outside the jurisdiction of the shipping regime and thus the value creation attributable to the core income generating activities that occur from a fixed location is more limited than for other types of regimes  The study also considered whether the system caters for ensuring taxpayer compliance with corporate law and regulatory obligations of the shipping company, along with other obligations such as shipping registration and compliance with International Maritime Organisation regulations. 
 

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OECD publishes updated Harmful Tax Practices Progress Report on Preferential Regimes

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Copyright © 2025 Chetcuti Cauchi. This document is for informational purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking any action based on the contents of this document. Chetcuti Cauchi disclaims any liability for actions taken based on the information provided. Reproduction of reasonable portions of the content is permitted for non-commercial purposes, provided proper attribution is given and the content is not altered or presented in a false light.

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