Malta agrees on closing a tax loophole referred to as hybrid loan mismatch. At the last ECOFIN Meeting which took place on 6th May 2014, Malta only disagreed with the wording of the amending directive, but not the object of the Parent Subsidiary Directive. As explained by the Minister for Finance in his intervention in…

The Minister for Finance, Prof. Edward Scicluna inaugurated a new Banif Bank (Malta) plc. branch in Pjazze de Paule, Paola, on Friday 30th May 2014. Speaking during the inauguration, Prof. Scicluna said that the Government continues to consider the Maltese banking sector as a sound and solid sector which has managed to weather the financial…

The Government is looking towards the introduction of competitiveness indicators aimed at monitoring the competitiveness of our business sector. “We are to make sure that we improve our competitiveness, this is in view that those European countries which went through the economic and financial turmoil, will emerge much stronger after the crises,” said the Minister for Finance…

Fondi Ewropej immirati speċifikament lejn Għawdex għal dawn is-seba snin li ġejjin intilfu minħabba kif l-amministrazzjoni preċedenti ma kinitx kapaċi tikkonvinċi lill-Kummissjoni Ewropeja. Dan ġara għaliex il-Gvern kien ippreżenta rapport superfiċjali dwar Għawdex. Il-Ministru Għall-Finanzi l-Prof. Edward Scicluna kien qed jitkellem f’okkażjoni meta hu u l-Ministru għall-Għawdex Anton Refalo flimkien inawguraw ktieb bl-istatistika u figuri…

“Our main priority from a government point of view should be the growth of family businesses. These represent a significant portion of the economy, and the Government certainly has a role to play in ensuring that they are able to survive the challenges they face, and realise their potential,” said the Minister for Finance, Prof.…

Finance Minister Edward Scicluna was in Brussels in a two day meeting on 5 and 6 May 2014 in Brussels covering the European Investment Bank`s (EIB) Annual General Meeting, the Eurogroup and the ECOFIN Council. In his capacity as Chairman of the EIB Board of Governors, Minister for Finance, Professor Edward Scicluna, chaired a meeting…

The Minister for Finance Prof. Edward Scicluna noted with satisfaction how during the third quarter of last year, while male participation remained constant over the previous 12 months, female participation achieved record increase of 3.8 percentage points, reaching 47.8%. “We are still lagging behind Europe in this regard, but the increase is very encouraging and…

“Tonio Fenech’s obstruction to amendments intended to close tax loopholes are tantamount to condoning tax evasion,” said the Minister for Finance Prof. Edward Scicluna in reference to the position adopted by the Opposition during the committee stage of the parliamentary debate on the Budget Measures Implementation Bill. During the debate, Prof. Scicluna presented amendments intended…

The reduction in electricity and water tariffs introduced on 31st March 2014 will increase consumption by €42 million and boost the gross domestic product by 0.5%. Furthermore lower income families will benefit from a higher percentage of savings than higher income families, the Minister for Finance Prof. Edward Scicluna said. Prof. Scicluna was speaking during a…