Throughout the year, the Malta Institute of Accountants has been heavily involved in a number of key projects and initiatives covering various policy areas that are changing the landscape within which businesses operate, hence having an impact on the Maltese economy and its attractiveness. These include the audit exemption for certain eligible entities, the necessary changes to the Companies Act, the transposition of the Corporate Sustainability Reporting Directive and the lack of resources.
The Institute sought to identify fiscal measures that support these policy areas as well as the need to ensure that Malta remains an attractive jurisdiction and facilitates the ease of doing business, while also ensuring adherence to the applicable regulatory framework. In fact, the focus of the budget proposals for 2025, which were prepared following the necessary consultation with the Institute’s Committees and Groups, is more on the direct and indirect taxation measures that are necessary to address matters such as the need to simplify business processes and align requirements to enhance efficiency and effectiveness, while reducing inconsistencies that might have a counter effect on other efforts, such as increased compliance. The Institute also proposed fiscal measures to continue promoting initiatives related to environmental, social and governance matters in Malta.
The budget proposals of the Malta Institute of Accountants were presented to the Hon. Minister of Finance Clyde Caruana on Friday, 27th September 2024.
