Malta’s legal and regulatory framework for exchange of information was assessed and deemed to be in place on the 5th May, 2012 by the Global Forum on Transparency and Exchange of Information for Tax Purposes. Malta was deemed to maintain adequate information regarding the ownership, identity and accounting information of companies, the tax authorities and the commercial register in line with the international standard. Malta also received positive results in relation to banking information.
On the 2nd April, 2009 Malta was included in the OECD’s white list of jurisdictions that have substantially implemented the internationally agreed standards pertaining to transparency and effective exchange of information. These standards were set up by the Global Forum, an international organisation that currently comprises 108 member jurisdictions, as well as the European Union and 9 international organisations as observers.
Improving availability and access to information have been at the forefront of Malta’s commitments in this regard. Further, in a bid to maintain its stance, Malta’s increasing number of double tax treaties all allow for the exchange of information between the contracting parties.
This positive result of the Global Forum’s assessment of Malta’s legal framework constitutes further evidence of Malta’s good standing as a reputable financial centre.
