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The Malta Institute of Accountants is a member body of Accountancy Europe.

Read Accountancy Europe’s news here and access the respective publications from here.

5-step starting guide to a sustainable transition for SMEs – written by Accountancy Europe in collaboration with Ecopreneur.eu – the European Sustainable Business Federation, and supported by the European Association of Co-operative Banks (EACB), this paper presents 5 first steps an SME can take to begin their sustainable journey.

ESG governance: questions boards should ask to lead the sustainability transition

Accountancy Europe (AE) together with the European Voice of Directors (ecoDa) and European Confederation of Institutes of Internal Auditing (ECIIA) have launched a new joint-publication on sustainability.

This document aims to help boards with embedding the subject-matter – and more specifically environmental, social and governance (ESG) factors – into company strategy and business models, and to ensure that proper governance supports this.

More information may be found here.

5 reasons why sustainability matters for SMEs

Accountancy Europe (AE) issued a new publication titled 5 reasons why sustainability matters for SMEs highlighting why small and medium-sized enterprises should not wait to start transitioning to more sustainable business models.

Accountancy Europe issues 3 publications on taxation

These publications aim to be a guide for accountants and stakeholders, providing insights on the new European Commission (EC) tax proposals’ focal points.

1. BEFIT proposal: a common tax base for the EU:
This proposal was designed to simplify the tax reporting and the tax base calculation for cross border groups with a presence in the EU.

2. Head Office Tax system (HOT) – simplifying cross-border taxation for SMEs
The purpose of this proposal is to reduce the tax-related administrative burden SMEs encounter when they open a fixed place of business in another Member State.

3. Harmonising EU transfer pricing – EC proposal to reduce tax compliance costs
This proposal aims to harmonise EU transfer pricing rules and tax treatment of intra-group transactions for SMEs.

Carbon Border Adjustment Mechanism (CBAM)

The Carbon Border Adjustment Mechanism (CBAM) is now enforced in the European Union (EU). The new law introduces an import tax on goods such as steel, cement and fertilizers. The legislation is designed to strengthen the EU Emissions Trading System, prevent carbon leakage and ultimately contribute to EU competitiveness.

The Regulation is complex and will heavily impact many businesses, importers, manufacturers, including SMEs. Accountants should be aware of the impacts on their clients and advise them in the CBAM planning and declarations.

This factsheet aims to support accountants and provides an overview of the CBAM’s main provisions.

Accountancy Europe Publication: The Late Payment Regulation proposal – bringing fairness to business transactions

On 12th September 2023, the European Commission released the Late Payment Regulation (LPR), a legislative proposal to tackle late payments in commercial transactions in Europe. It aims to:

bring fairness into commercial transactions;
increase supply chains and SME’s resilience;
foster a more widespread use of digitalisation; and
improve financial literary of entrepreneurs.

Accountancy Europe published a factsheet to provide a high-level summary of the main provisions of the LPR and explores the impact on Small and Medium Enterprises (SMEs).