While being protective over its sovereignty when it comes to taxation, Malta has always understood well the importance of being transparent and cooperative vis-à-vis other tax jurisdictions, Minister for Finance Edward Scicluna said. He was addressing tax experts from Malta and Europe, Turkey and China participating in the European Tax Meeting organised by accountant and business advisor firm ‘PKF Malta’ on Monday 12 May. The meeting, with ‘Connecting European Tax Experts’ as a theme, is being held at the Le Meridien.

In his message, which was recorded as he is currently in Brussels attending the Council of EU finance ministers (ECOFIN) meeting, Minister Scicluna touched upon, inter alia, the multifaceted and fast evolving nature of taxation.

Minister Scicluna explained that Malta’s tax system was built soon after the end of the Second World War, and it has suited the country’s needs over time. Over the years, however, Malta has also subscribed to a number of tax treaties with other countries, lately also following the Organisation for Economic Cooperation and Development (OECD)’s own model in order to comply with international standards.