On behalf of their respective Governments, Minister for Finance Edward Scicluna and U.S Ambassador Gina Abercrombie –Winstanley signed the Foreign Account Tax Compliance Act (FATCA) on Monday, December 16, 2013. The “FATCA Agreement” is a further development in the relations between Malta and the United States regarding exchange of information and is to be made…

“Malta will not give it consent unless it studies the legal text in detail, which is still to be drafted and sees that Malta’s interests are safeguarded. In particular we seek a system of decision making which is not cumbersome and which respects the rights of small Member States” Minister for Finance, Professor Edward Scicluna…

MEP’s in the European Parliament’s Economic and Monetary Affairs Committee gave a warm welcome to Minister Edward Scicluna, a former MEP and Vice-chair of the Committee during an Exchange of Views (EV) held with the ECON committee on Thursday 5th December 2013. The coordinator of the EPP Mr Gauzes together with the S&D coordinator Elisa…

The Finance Ministry welcomes the conclusions of the Report prepared by the Auditor General and presented to the Speaker which confirm the Ministry’s concerns regarding significant over-spending and rampant lack of good governance in how the Fund was administered. The NAO’s report concluded that the commitments entered into by the previous administration will mean that…

“The Ministry for Finance will be undertaking studies to determine the appropriate structures to safeguard consumers rights when it comes to the buying of financial products,” said Finance Minister Prof. Edward Scicluna. Prof. Scicluna was speaking during the opening address of KPMG’s biennial Financial Services Conference, where he spoke at length regarding the need to…

Euro Area Finance Ministers recognised that Malta has taken additional measures within its own budgetary process to address the risk of non-compliance with the rules of the Stability and Growth Pact (SGP). The positive assessment was delivered during a meeting of the Eurogroup held in Brussels on 22 November 2013 in order to assess Euro…

Finance Minister Prof. Edward Scicluna welcomed the European Commission’s conclusion that Malta has taken effective action to address the budget deficit and no further steps in the excessive deficit procedure are needed at present. Prof. Scicluna was speaking during a press conference held at the Ministry for Finance on Friday 15th November, during which he…