Malta Supports International Tax Initiatives, Says Scicluna
by Jason Gorringe, Lowtax.net, London
07 October, 2016
Malta's Minister for Finance, Edward Scicluna, said the island fully supports the OECD's base erosion profit sharing (BEPS) initiative and the EU's Anti-Tax Avoidance Directive.
Scicluna, speaking at the Malta Institute of Taxation, said these projects, and similar initiatives, are intended to ensure fair taxation competition between countries.
He made the comments at a graduation ceremony hosted by the Institute. He told graduates that these international initiatives are changing the environment within which firms are operating – so much so, that top auditing firms are considering refraining from giving advice on tax beyond a certain point, he said.
Scicluna said the Government is very careful on how it uses taxation as a tool to generate revenue without placing undue burdens on families and businesses, adding that taxation can influence the choices made. He also stressed that taxation needs to be efficient, as revenue generated has to heavily outweigh its administrative costs.
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