The CRS is an information exchange system released with the aim of combating cross border tax fraud and tax evasion using offshore financial accounts and that of reinforcing the protection of the proper functioning of tax structures.
Today's proposals aim for a coordinated EU wide response to corporate tax avoidance, following global standards developed by the OECD last autumn.
The Malta Financial Services Authority (MFSA) has unveiled a new framework for Alternative Investment Funds (AIFs) targeted at qualifying and professional investors.
Malta has seen direct economic contribution by its Financial Services sector nearly double in the five year period ending in December 2012.
The Mauritius Revenue Authority (MRA) had issued a communique on the 22nd December 2015 to inform its' stakeholders that the Ministry of Finance has already notified the OECD that the implementation date regarding the adoption of Common Reporting Standard for Automatic Exchange of Information (CRS), initially set for the 1st January 2016, has been deferred.
The Malta Financial Services Authority (MFSA) issued a consultation document on the proposed transposition of the UCITS V Directive. This consultation document explains how the MFSA plans to transpose the provisions of the Directive.