Malta Welcomes OECD Global Tax Compliance Report
by Amanda Banks, Lowtax.net, London
12 January, 2018
Malta's Minister of Finance, Edward Scicluna, has welcomed the OECD's 2017 International Tax Co-operation Report saying it shows the island is amongst the world's most tax-compliant countries.
"Indicators just published by the OECD portray Malta as a tax-compliant jurisdiction. This is exactly what we have been stating all along in the face of unfair criticism by uninformed or malicious quarters. Thus, while we intend to continue to be one of the competitive choices in the Mediterranean for investors, we are resolute to keep to the best international standards on taxation matters," said Scicluna.
"With regards to Malta, the OECD indicators show the absence of harmful tax practices in relation to base erosion and profit shifting (BEPS), as well as a strong commitment in relation to tax cooperation in general. For automatic exchange of information, Malta has commenced exchanging information in line with the Common Reporting Standard and has an activated information exchange network in relation to country-by-country reporting for multinational enterprises. Moreover, Malta is ranked as being largely compliant when it comes to the exchange of information on request."
Scicluna concluded: "The OECD Report clearly shows that Malta has been upholding the internationally agreed standards and providing the necessary exchange of information for investigations when it comes to tax related issues."
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