A new tax regime will be in place by 2025, in a major overhaul of the current system, Finance Minister Clyde Caruana announced on Friday.
Addressing a press conference, Caruana said the time had come to revamp the financial services industry by putting in place a new corporate tax regime to replace the existing one, which he said was drawn up over 20 years ago by then finance minister John Dalli.
Move away from imputation system
Caruana said a public consultation process will take place on the proposed tax regime, which will also need to be greenlit by the European Commission. Once that is done, the new regime is envisaged to be put in place as early as 2025, Caruana said.
Cosa ne pensate?
Addressing a press conference, Caruana said the time had come to revamp the financial services industry by putting in place a new corporate tax regime to replace the existing one, which he said was drawn up over 20 years ago by then finance minister John Dalli.
Move away from imputation system
Caruana said a public consultation process will take place on the proposed tax regime, which will also need to be greenlit by the European Commission. Once that is done, the new regime is envisaged to be put in place as early as 2025, Caruana said.
Cosa ne pensate?
Comment