Doing Business in Malta

Size: px
Start display at page:

Download "Doing Business in Malta"

Transcription

1 Doing Business in Malta

2

3 Table of Contents Fact Sheet 7 Who we are? 8 Projects approved by Malta Enterprise 9 Foreign Owned Projects 9 Main Economic Indicators 12 Malta s Economy 14 Investors Outlook 16 Taxation 17 Company Formation 18 Fees 18 Taxation 20 Double Taxation Agreements 20 Personal Taxation 22 Category Description 23 Working Permits 24 Implicit Tax Rates on Labour 25 Tax for Highly Qualified Persons 26 Corporate Tax Rate 26 Operating Surpluses as a percentage of GVA 27 Electricity 30 Residential Tariffs 30 Residential Rates 31 Domestic Rates 32 Non-Residential Tariffs 33 Non-Residential kvah 34 Water 35 Domestic Water 35 Non-Domestic Water 36 Non-Residential Water Tariffs 36 Gas 37 Price of Gas 37 Deposits on New Gas Cylinders 38 Petroleum 39 Communication Costs 42 GO Group Fixed Line Telephony 43 Melita Fixed Line Telephony 45 Mobile Telephony 46 Provision of Internet Services 46 GO Group Residential Internet Costs 46 GO Group Business Internet Costs 47 Melita Plc Residential and Business Internet Costs 48 Vodafone (Malta) Residential and Business Internet Costs 48 Language Proficiency, Training, Salaries and Graduate Statistics 50 Language Proficiency 50 Education 52 Pre-Primary Education (Age 3 to 5) 53 Compulsory Education (Age 5 to 16) 53

4 Table of Contents Upper Secondary 54 Education 54 Vocational Upper 54 Secondary Education 54 Tertiary Education 56 Graduates 57 Training 67 Salaries 68 Sick leave entitlement to employers 72 and self employed 72 Sick Leave Statistics 72 Industrial Property 74 Office Spaces 75 Acquisition of Property in Malta 78 Global Residency Scheme 78 Individual Investment Programme 79 Development Planning 80 Transport Infrastructure 82 Lifestyle 89 Healthcare 93 Holidays 95 Public and National Holidays 96 Other Information 97 Business First 98 Useful Websites 99

5 List of Tables Table 1-New and Expansion FDI projects Approved 9 Table 2-New and Expansion Local projects Approved 11 Table 3-Main Economic Indicators 12 Table 4-Fees required to setup a Company 18 Table 5-Double Taxation Agreements in Force 20 Table 6-Double Taxation Agreements Signed but not yet into Force 21 Table 7-Single Personal Taxation Computation 22 Table 8-Married Rates 22 Table 9-Parent Rates 22 Table 10-Class 1 Social security Contributions 23 Table 11-Residential Installation Charges 30 Table 12-Residential Service Charges (inclusive of 5% VAT) 30 Table 13-Residential Rates (inclusive of 5% VAT) 31 Table 14-Domestic Rates (inclusive of 5% VAT) 32 Table 15-Non-Residential Service Charges (exclusive of VAT) 33 Table 16-Non-Residential Rates per kwh (exclusive of VAT) 33 Table 17-Non-Residential Rates per kvah (exclusive of VAT) 34 Table 18-Domestic Water Installation and Service Charges 35 Table 19-Domestic Water Tariffs 36 Table 20-Non-Residential Water installation and Service Charges 36 Table 21-Non-Residential Water tariffs 36 Table 22-Price of Gas (inclusive of VAT) 37 Table 23-Deposits on new gas cylinders 38 Table 24-Tariffs for cylinders to be carried in flats/apartments 38 Table 25-Petroleum Prices (May to December 2014) 39 Table 26- Residential Fixed Line Telephony Connection and Rental Charges 43 Table 27-Residential Tariffs for Fixed Telephony 43 Table 28- Business Fixed Line Telephony Connection and Rental Charges 44 Table 29- Business Tariffs for Fixed Line Telephony 44 Table 30-Connection and Rental Charges 45 Table 31-Tariffs for Fixed Line Telephony 45 Table 32-Residential Internet Costs 46 Table 33-Business Internet Costs 47 Table 34-Residential and Business Internet Costs 48 Table 35-Languages Spoken 51 Table 36-University Graduates by Faculty 58 Table 37-MCAST Graduates by Faculty 65 Table 38- Average Weekly Wages September Table 39-Warehouses/Garages Rental Rates by Size (July 2012) 74 Table 40-Warehouses/Garages Rental Rates by Region (July 2012) 74 Table 41-Standard Office Rental Rates by Size (July 2012) 75 Table 42- Standard Office Rental Rates by Region (July 2012) 75 Table 43-Luxurious Offices Rental Rates by Size (July 2012) 76 Table 44-Rental Rates for Finished Apartment (December 2012) 76 Table 45-New Fees Regulations 80

6 List of Figures Figure 1-Contribution of Various Economic Sectors to GVA (2013) 15 Figure 2-Interviewed Companies considering 16 an Expansion of their Maltese Operation 16 Figure 3-Malta s Attractiveness vis-à-vis investment criteria 16 Figure 4-Implicit Tax Rates on Labour (2011) 25 Figure 5-Operating Surpluses as a percentage of GVA 27 Figure 6-Hourly Labour Costs for the Whole Economy (2013) 70 Figure 7-Labour Costs per hour by economic activity (2013) 71

7 Fact Sheet Full Name: Population: 421,364 Area: 316m 2 Capital: Republic of Malta Valletta EU membership: 2004 Euro Adoption: 2008 President: Prime Minister: Opposition Leader: Major Languages: Major Religion: Marie-Louise Coleiro Preca Dr Joseph Muscat Dr Simon Busuttil English and Maltese (both official languages) Roman - Catholic GDP at market prices: 7.2 bn (2013) Real GDP Growth 2013: 2.4% Unemployment: 6.5% (2013) Inflation Rate (HICP): 1.0% (2013) Government Deficit as a % of GDP: 2.8% Government Debt as a % of GDP: 72.0% Main Trading Partners: Life Expectancy: Time Zone: Italy, Germany, France, UK, USA, Singapore and Libya 78.6 years (males) and 83.0 years (females) Maltese standard time is one hour ahead of Greenwich Mean Time (GMT) and six hours ahead of US Eastern Standard Time (EST). Doing Business in Malta - Page 7

8 Malta Enterprise Who we are? Malta Enterprise (ME) is the national development agency responsible for promoting and facilitating international investment in the Maltese Islands by offering investors excellent business opportunities and tailored services. The Malta Enterprise network operates in various countries around the globe, with offices or representation in embassies and consulates in North Africa, the Middle East, Asia, the United States and Australia. The Corporation also coordinates initiatives to promote the Islands economic growth attractiveness. Moreover Malta Enterprise is also responsible for facilitating the growth and development of Maltese enterprise both locally and beyond our shores. We work hand in hand with local businesses to help them set up, expand, innovate and access global markets; thus sustaining economic growth and retaining and increasing employment. Malta Enterprise Headquarters Doing Business in Malta - Page 8

9 Projects approved by Malta Enterprise Foreign Owned Projects Table 1 shows the number of projects approved by Malta Enterprise Board of Directors during the period 2006 to All approvals refer to projects undertaken in the Maltese islands by foreign nationals/companies. Projects undertaken by Maltese owned companies/maltese entrepreneurs are not being included below. These are being presented under Table 2. The operational definition of FDI adopted below refers to all companies with 50% or more of equity held by foreign nationals; this differs from the OECD and World Bank definition of FDI as requiring 10% or more of voting stock held by foreign nationals. Table 1-New and Expansion FDI projects Approved New FDI Projects Approved FDI Expansion Projects Approved Total FDI Projects Approved Year of Approval New FDI Projects Forecast 3 Year Investment ( million) Forecast 3 Year FTE Employment FDI Expansion Projects Forecast 3 Year Investment ( million) Forecast 3 Year FTE Employment Total FDI Projects Approved Forecast 3 Year Investment ( million) Forecast 3 Year FTE Employment , , , b , ,533 b=break in series. From 2013, definition of what constitutes a project was amended to include only productive projects. Source: Malta Enterprise, Board of Directors - Approvals Doing Business in Malta - Page 9

10 It is important to note that besides the projects presented here, there may be other investment projects that could have been carried out by foreign nationals who did not seek Malta Enterprise services to do so. Financial services and real estate do not fall within the remit of Malta Enterprise and are not listed in the above table. of 2014, the FDI projects that at present Malta Enterprise is evaluating and discussing with investors will augur well for Malta Enterprise is confident that 2014 will compare well with, if not exceed the results attained in saw a sharp upturn in terms of FDI projects approved. This steep increase was also reflected in terms of the forecast 3 year investment and full time equivalent employment (FTE) that would be generated as a result of these approved projects. New FDI projects approved in 2013: Were nearly three times more than the total number of new FDI projects approved for the period 2010 to 2012 Had the highest 3 year forecast investment for the period 2006 to 2012, bar 2011 Had the highest 3 year forecast employment for the period 2006 to 2012, bar 2006 Compared to previous years, 2013 was also a strong year in terms of FDI expansion projects approved. For 2013, forecast 3 year investment as a result of FDI expansion was 42.5 million. This figure represented a record for the last couple of years. 3 year forecast employment was also very strong when compared to the last 5 years. Local Owned Projects Table 2 shows the number of projects approved by Malta Enterprise Board of Directors during the period 2006 to All approvals refer to projects undertaken in the Maltese islands by Maltese nationals/companies. The information presented with respect to FDI projects approved by Malta Enterprise Board of Directors shows clearly that 2013 has been a strong year that compares very favourably even with prerecession years. Although still in the beginning Doing Business in Malta - Page 10

11 Table 2-New and Expansion Local projects Approved Local New Projects Approved Local Expansion Projects Approved Total Local Projects Approved Year of Approval New Local Projects Forecast 3 Year Investment ( million) Forecast 3 Year FTE Employment Local Expansion Projects Forecast 3 Year Investment ( million) Forecast 3 Year FTE Employment Total Local Projects Approved Forecast 3 Year Investment ( million) Forecast 3 Year FTE Employment Source: Malta Enterprise, Board of Directors - Approvals Doing Business in Malta - Page 11

12 Main Economic Indicators Table 3-Main Economic Indicators Indicator Population 410, , , , ,364 GDP at Market 5.8bn 6.4bn 6.7bn 6.9bn 7.2bn Prices 1 Real GDP growth 1-2.8% 4.1% 1.6% 0.6% 2.4% Nominal GDP per 14,400 15,600 16,100 16,400 17,000 Capita 2 Labour Supply 3 152, , , , ,255 4 Unemployment 6.9% 6.9% 6.5% 6.4% 6.5% Inflation (HICPannual Average inflation) 5 Government deficit as a % of GDP Government debt as a % of GDP 1.8% 2.0% 2.5% 3.2% 1.0% -3.7% -3.5% -2.7% -3.3% -2.8% 66.5% 66.0% 68.8% 70.8% 73.0% Exports of goods 2.1bn 2.8bn 3.8bn 4.4bn 3.8bn Exports of Services 2.8bn 3.2bn 3.3bn 3.8bn 3.8bn Imports of goods 3.1bn 4.3bn 5.3bn 6.2bn 5.6bn Imports of Services 1.8bn 2.0bn 2.0bn 2.3bn 2.4bn Source: National Statistics Office Various releases Source: Eurostat Doing Business in Malta - Page 12

13 1 Gross Domestic Product (GDP) & Real GDP Growth: Gross Domestic Product (GDP) is a measure of the economic activity, defined as the value of all goods and services produced less the value of any goods or services used in their creation. The calculation of the annual growth rate of GDP volume is intended to allow comparisons of the dynamics of economic development both over time and between economies of different sizes. For measuring the growth rate of GDP in terms of volumes, the GDP at current prices are valued in the prices of the previous year and thus the computed volume changes are imposed on the level of a reference year; this is called a chain-linked series. Accordingly, price movements will not inflate the growth rate. 2 Nominal GDP per Capita: It is derived by dividing nominal GDP by the average total population (i.e. including residents who are not Maltese nationals) for the period under review. 3 Labour Supply: The sum of the full-time gainfully occupied population and the registered unemployed population. 4 Figure as at November National Statistics Office: Gainfully Occupied Population November Harmonised Indices of Consumer Prices (HICPs): HICPs are designed for international comparisons of consumer price inflation. HICP is used for example by the European Central Bank for monitoring of inflation in the Economic and Monetary Union and for the assessment of inflation convergence as required under Article 121 of the Treaty of Amsterdam. Doing Business in Malta - Page 13

14 Malta s Economy Malta s GDP in 2013 amounted to 7.2 billion. 6 During the same year, Malta s economy in real terms grew at the rate of 2.4%, contrasting very positively with the EU s 28 average. In fact, during 2013 it is envisaged that the EU28 economy in real terms just eked a growth of 0.1%. 7 Forecasts for 2014 published by the European Commission in its European Economic Forecast-Spring 2014 show that real growth in Malta is expected to be higher than that in the EU28, 2.3% compared to 1.6%. Gross Domestic Product per capita in nominal terms for 2013 amounted to 16,100. GDP per capita in Purchasing Power Standards (PPS) for 2013 amounted to 86% of that recorded on average in the EU28. 8 The Gross Value Added (GVA) generated by the Maltese economy after 2009 has been increasing on an annual basis. For 2013, the total GVA generated by the Maltese economy was 4.3% higher than that recorded in This was also 23.1% higher than the GVA recorded in the pre-crisis period (2008). Over the years, the Maltese economy has managed to increase its economic diversification. Besides, the local economy has also managed to renovate its traditional sectors such as manufacturing and tourism. Simultaneously it has also developed new economic sectors such as pharmaceuticals, aircraft maintenance repairs and overhaul, information and communication technologies, financial services, igaming and digital gaming. A Life Sciences Park worth circa 38 million is being built to facilitate further diversification as well as to promote the development of new off shoots in Malta s life science sector. The Park will be fully operation by the end of 2014, first quarter of For a small island with a very open economy like Malta this is of crucial importance. Malta s economic diversification as well as a conservative banking system has enabled the Maltese economy to withstand the economic headwinds encountered during the last couple of years. 6 National Statistics Office (NSO), Gross Domestic Product European Commission, European Economic Forecast. Spring Eurostat Doing Business in Malta - Page 14

15 Figure 1-Contribution of Various Economic Sectors to GVA (2013) A B+D+E C F G+H+I J K L M+N O+P+Q R+S+T+U Agriculture Mining & Quarrying; Electricity, Gas & Water Supply; Sewerage; Waste Management etc. Manufacturing Construction Wholesale & Retail; Transportation & Storage; Accommodation & Food Service Information & Communication Finance & Insurance Activities Real Estate Activities Professional, Scientific & Technical Activities; Administrative & Support Service Activities Public Administration; Compulsory Social Security; Education; Human Health & Social Work Activities Arts, Entertainment, Recreation, Repair of household goods and other services Source: National Statistics Office (NSO), Gross Domestic Product 2013 Doing Business in Malta - Page 15

16 Investors Outlook Ernst & Young (EY) on a yearly basis carry out an attractiveness survey on Malta as a location from where to conduct business. The 2013 Malta Attractiveness Survey presents the perception of top executives of 91 foreign owned companies that are operating from Malta. The following figures will be representing some of the most salient points deduced from the survey. From Figure 2 it is evident that slightly more than half of the companies interviewed, 53% are considering to expanding their operation in Malta; further 32% of the respondents commented that at present they are not considering to expand their operation in Malta. The remaining 15% of the respondents due to various reasons commented that they were not in a position to reply either way to the question being put forward. Respondents were also presented with 10 different investment criteria and they had to rank their attractiveness when it comes to carrying out business from Malta. The ratings given to the stability of social climate was the highest. This was closely followed by corporate taxation. The ratings of transport and logistics infrastructure were amongst the lowest. Figure 3 presents the attractiveness attained by each of the 10 investment criteria presented. Figure 2-Interviewed Companies considering an Expansion of their Maltese Operation Figure 3-Malta s Attractiveness vis-à-vis investment criteria Base: All 91 Respondents Source: EY-Malta Attractiveness Survey 2013 Base: All Relevant Respondents Source: EY-Malta Attractiveness Survey 2013 Doing Business in Malta - Page 16

17 Taxation Doing Business in Malta - Page 17

18 Company Formation Fees The Registry of Companies within the Malta Financial Services Authority is responsible for the registration of companies in Malta. The Table hereunder represents the fees charged for registering a company and submitting annual returns. Table 4-Fees required to setup a Company Registration of any commercial partnership whose authorised capital or total contributions, as the case maybe In paper format In electronic format Do not exceed 1, Exceed 1,500 but do not exceed 5,000 Exceed 5,000 but do not exceed 10,000 Exceed 10,000 but do not exceed 50,000 Exceed 50,000 but do not exceed 100,000 Exceed 100,000 but do not exceed 250,000 Exceed 250,000 but do not exceed 500,000 Exceed 500,000 but do not exceed 1,000,000 Exceed 1,000,000 but do not exceed 2,500, with the addition of 15 for each 500 or part thereof in excess of 1, with the addition of 20 for each 1,000 or part thereof in excess of 5, with the addition of 20 for each 2,500 or part thereof in excess of 10, with the addition of 20 for each 10,000 or part thereof in excess of 50, with the addition of 10 for each 15,000 or part thereof in excess of 100, with the addition of 10 for each 10,000 or part thereof in excess of 250,000 1,220 with the addition of 20 for each 20,000 or part thereof in excess of 500,000 1,720 with the addition of 10 for each 50,000 or part thereof in excess of 1,000, with the addition of 12 for each 500 or part thereof in excess of 1, with the addition of 17 for each 1,000 or part thereof in excess of 5, with the addition of 17 for each 2,500 or part thereof in excess of 10, with the addition of 17 for each 10,000 or part thereof in excess of 50, with the addition of 8 for each 15,000 or part thereof in excess of 100, with the addition of 8 for each 10,000 or part thereof in excess of 250,000 1,016 with the addition of 17 for each 20,000 or part thereof in excess of 500,000 1,441 with the addition of 8 for each 50,000 or part thereof in excess of 1,000,000 Exceed 2,500,000 2,250 1,900 Source: Companies Act (Fees) Regualtions 2008 Doing Business in Malta - Page 18

19 Registration of an annual return of a company other than an investment company with variable share capital, in the case where the authorised share capital of the company In paper format In electronic format Does not exceed 1, Exceeds 1,500 but does not exceed 5,000 Exceeds 5,000 but does not exceed 10,000 Exceeds 10,000 but does not exceed 50,000 Exceeds 50,000 but does not exceed 100,000 Exceeds 100,000 but does not exceed 250,000 Exceeds 250,000 but does not exceed 500,000 Exceeds 500,000 but does not exceed 1,000,000 Exceeds 1,000,000 but does not exceed 2,500, ,200 1,020 Exceeds 2,500,000 1,400 1,200 Source: Companies Act (Fees) Regualtions 2008 For more detailed information refer to Companies Act (Fees) Regulations Additional information can also be accessed through the Malta Financial Services Authority (www.mfsa.com.mt) Doing Business in Malta - Page 19

20 Taxation Double Taxation Agreements Malta at present has 66 double taxation agreements that are in force. Furthermore, Malta has 7 double taxation agreements that that have been signed but did not come into force for the time being. Malta has 5 tax information exchange agreements with Bahamas, Bermuda, Gibraltar, Cayman Islands and Macao. Table 5 illustrates the countries with which Malta has a double taxation agreement into force. Table 5-Double Taxation Agreements in Force Double Taxation Agreements in Force Albania Hungary Poland Australia Iceland Portugal Austria India Qatar Bahrain Ireland Romania Barbados Isle of Man Russia Belgium Israel San Marino Bulgaria Italy Saudi Arabia Canada Jersey Serbia China Jordan Singapore Croatia Korea (Republic of) Slovakia Cyprus Kuwait Slovenia Czech Republic Republic of Latvia South Africa Denmark Lebanon Spain Egypt Libya Sweden Estonia Lithuania Switzerland Finland Luxembourg Syria Arab Republic France Malaysia Tunisia Georgia Montenegro Turkey Germany Morocco United Arab Emirates Greece Netherlands United Kingdom Guernsey Norway United States of America 9 Hong Kong Pakistan Uruguay Source: Malta Financial Services Authority (MFSA) 9 Besides a comprehensive tax treaty, a separate agreement limited to profits derived from the operation of ships or aircraft in international traffic is in force with the USA. Doing Business in Malta - Page 20

21 Table 6 illustrates the countries with which Malta has signed a double taxation agreement but which did not yet come into force. Table 6-Double Taxation Agreements Signed but not yet into Force Double Taxation Agreements Signed but not yet into Force Barbados (Protocol amending DTA) Belgium (Protocol amending DTA) Liechtenstein (Protocol amending DTA) Mexico (Protocol amending DTA) Moldova (Protocol amending DTA) Ukraine (Protocol amending DTA) Source: Malta Financial Services Authority (MFSA) Doing Business in Malta - Page 21

22 Personal Taxation Table 7-Single Personal Taxation Computation From To Rate 0 8,500 0% 8,501 14,500 15% 14,501 19,500 25% 19,501 60,000 29% 60,001 and over 35% Source: Table 8-Married Rates From To Rate 0 11,900 0% 11,901 21,200 15% 21,201 28,700 25% 28,701 60,000 29% 60,001 and over 35% Source: Table 9-Parent Rates From To Rate 0 9,800 0% 9,801 15,800 15% 15,801 21,200 25% 21,201 60,000 29% 60,001 and over 35% Source: Doing Business in Malta - Page 22

23 Category Description Table 10-Class 1 Social security Contributions Category A B C D E F Description Persons under 18 years of age earning not more than the amount indicated. Persons aged 18 and over, earning not more than the amount indicated below. All persons whose basic weekly wage is between the amounts indicated below. All persons whose basic weekly wage is equal to or exceeds the amount indicated below. Students 10 under 18 years of age. Students years old and over. Basic Weekly Wage 11 ( ) Weekly Rate Payable 12 ( ) From To By Employee By Employer Total A B Persons Born up to 31 st December 1961 Basic Weekly Wage 11 ( ) Weekly Rate Payable 12 ( ) From To By Employee By Employer Total C % 10% N/A D N/A Persons Born up to 1 st January 1962 onwards Basic Weekly Wage 11 ( ) Weekly Rate Payable 12 ( ) From To By Employee By Employer Total C % 10% N/A D N/A E N/A N/A 10% Max % Max 4.38 N/A F N/A N/A 10% Max % Max 7.94 N/A Source: Doing Business in Malta - Page 23

24 Working Permits - Non- EU Nationals A third country national seeking to work in Malta must be in possession of a working permit issued from the Employment & Training Corporation (ETC). Once the mentioned permit is in hand, a scanned copy must be sent to the Central Visa Unit of Malta and then the same Unit will be in a position to give the necessary information regarding the visa process. More information on the matter can be obtained from the: Employment and Training Corporation Ministry of Foreign Affairs 10 Students who are following a full-time course of studies or instruction under the Student-Worker Scheme, or other similar schemes (including the Extended Skills Training Schemes, but excluding the Worker-Student Schemes) involving distinct work and study periods for which they are receiving remuneration. 11 Basic Weekly Wage or the weekly equivalent of the basic monthly salary. 12 For percentage rates, the weekly rate payable is calculated to the nearest cent. 13 Or if the employee chooses, 10% of the basic weekly wage. This rate of contribution entitles the contributor to pro-rata contributory benefits. Doing Business in Malta - Page 24

25 Implicit Tax Rates on Labour The European Commission in one of its publications, Taxation Trends in the European Union (2013 Edition) provides information about implicit tax rates. Implicit tax rates, in general, measure the effective average tax burden on different types of economic income or activities, i.e. on labour, consumption and capital, as the ratio between revenue from the tax type under consideration and its (maximum possible) base. This publication highlights that Malta is the member state having the lowest overall implicit tax rate on labour. Implicit taxation on labour was defined to include personal income tax, employees social security contribution and employers social security contribution (including payroll taxes). For all of these, Malta ranked very favourably. With respect to employers social security contribution Malta ranked as having the second lowest taxation rate, just a bar below Denmark. The following Figure represents the implicit tax rates on labour for EU member states as presented in the publication Taxation Trends in the European Union (2013 Edition). Figure 4-Implicit Tax Rates on Labour (2011) Source: Eurostat Statistical Books, Taxation trends in the European Union (2013 Edition) Doing Business in Malta - Page 25

26 Tax for Highly Qualified Persons The Maltese Government has always acknowledged the need to facilitate the attraction of highly qualified human resources to Malta, especially in sectors where local talent is limited. The attraction of highly skilled personnel is looked upon as a tool that will also aid in the development of local talent. In order to facilitate the attraction of highly skilled workers a specific personal tax incentive was developed. Individual income from a qualifying contract of employment in an eligible office with a company licensed and/or recognised by the Malta Financial Services Authority is subject to tax at a flat rate of 15% provided that the income amounts to at least 75,000. More information about the eligibility criteria for the tax for highly qualified persons can be obtained through the following link: Corporate Tax Rate All companies resident in Malta are subject to corporate tax at a flat rate of 35%. There is no separate system of corporation tax, and a company is subject to tax in much the same way as an individual. A full imputation system is applicable. Through this system the amount of the tax refund is set at 6/7ths of the tax paid by the company. The effective corporate tax rate being paid will be circa 5%. The attractiveness of Corporate Tax was also highlighted by foreign investors in EY s Malta s Attractiveness Survey. 82% of the respondents considered Corporate Tax as being very attractive and attractive. More information about the taxation system in Malta can be accessed through the Malta Financial Services Authority: Doing Business in Malta - Page 26

27 Operating Surpluses as a percentage of GVA Figure 5-Operating Surpluses as a percentage of GVA Source: Eurostat *Based on 2013 Figures Doing Business in Malta - Page 27

28 Fungus Rock - Gozo viewingmalta.com Doing Business in Malta - Page 28

29 Electricity, Water & Fuel Doing Business in Malta - Page 29

30 Electricity The provision of electricity in Malta is entrusted to Enemalta Corporation. This Corporation is the sole entity in Malta responsible for the distribution of electricity. It is envisaged that by the end of , Malta will have an interconnector in place that will contribute to have a diversified mix of energy sources by providing the country with access to electricity generated through sources located in Sicily and other regions in mainland Europe. At present, the tariffs charged are divided between residential and non-residential tariffs. Residential Tariffs Residential Installation Charges Table 11 illustrates the residential installation charges as applicable to date. Table 11-Residential Installation Charges Installation Type Installation Charges Single Phase 300 Triple Phase Source: Enemalta Corporation Residential Service Charges Table 12 illustrates the residential service charges. The charges being presented are inclusive of 5% Value Added Tax (VAT). Table 12-Residential Service Charges (inclusive of 5% VAT) Installation Type Installation Charges Single Phase 65 Triple Phase 195 Source: Enemalta Corporation 14 https://www.enemalta.com.mt/index.aspx?cat=20&art= All requests for a service where the route lengths, passing through public roads, is greater than 150m from a suitable source of supply will be subject to a specific quote. All requests for a three phase supply greater than 60A will be subject to a specific quote. Doing Business in Malta - Page 30

Malta Companies in International Tax Structuring February 2015

Malta Companies in International Tax Structuring February 2015 INFORMATION SHEET No. 126 Malta in International Tax Structuring February 2015 Introduction Malta is a reputable EU business and financial centre with an attractive tax regime and sound legislative framework.

More information

MALTA TRADING COMPANIES IN MALTA

MALTA TRADING COMPANIES IN MALTA MALTA TRADING COMPANIES IN MALTA Trading companies in Malta 1. An effective jurisdiction for international trading operations 410.000 MALTA GMT +1 Located in the heart of the Mediterranean, Malta has always

More information

MALTA TRADING COMPANIES

MALTA TRADING COMPANIES MALTA TRADING COMPANIES Malta Trading Companies Maltese Registered Companies and Trading Operations in Malta Malta, an EU Member State since May 2004, has developed into a leading and reputable financial

More information

DOING BUSINESS THROUGH MALTA - AN OVERVIEW

DOING BUSINESS THROUGH MALTA - AN OVERVIEW A. WHY MALTA 2 B. THE MALTESE COMPANY 2 C. MALTA TAX REFUNDS - LOWEST TAX IN THE EU 3 D. MALTESE TRADING STRUCTURE - 5% EFFECTIVE TAXATION Benefits and Uses of the Maltese Trading Company Basic Trading

More information

The Perks of Doing Business in Malta

The Perks of Doing Business in Malta The Perks of Doing Business in Malta Legal and Tax Opportunities Dr Charles Cassar CCLex.com Malta London 1 2012 2013 - CCLex.com Overview About the Firm Business Environment Legal basics Tax Considerations

More information

About us. As our customer you will be able to take advantage of the following benefits: One Provider. Flexible Billing. Our Portal.

About us. As our customer you will be able to take advantage of the following benefits: One Provider. Flexible Billing. Our Portal. About us At RoamingExpert we specialise in mobile roaming tariffs which are tailored to the specific needs of the yachting industry. Our unique offering generates significant savings when compared to standard

More information

International Call Services

International Call Services International Call Services Affordable rates for business calls. Wherever you are in the world. We ve got plenty to say when it comes to staying in touch when you re overseas. We have agreements with 443

More information

Greece Country Profile

Greece Country Profile Greece Country Profile EU Tax Centre March 2013 Key factors for efficient cross-border tax planning involving Greece EU Member State Double Tax Treaties With: Albania Estonia Lithuania Serbia Armenia Finland

More information

Business Mobile Plans

Business Mobile Plans PRODUCT SOLUTIONS Business Mobile Plans GUERNSEY Whatever the size of your business, we can provide the ideal mobile solution for you. Our tariffs are flexible to suit all kinds of businesses and are designed

More information

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50. Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***

More information

Business Phone. Product solutions. Key features

Business Phone. Product solutions. Key features Product solutions Enjoy free calls and significant savings on your business landline bills with from International. Set-up is simple and you don t need to change your existing telephone numbers, plus there

More information

Consolidated International Banking Statistics in Japan

Consolidated International Banking Statistics in Japan Total (Transfer Consolidated cross-border claims in all currencies and local claims in non-local currencies Up to and including one year Maturities Over one year up to two years Over two years Public Sector

More information

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The Italian Social Security

More information

30 May 2012. Russia, 123001 Moscow Blagoveshchensky lane 5 INFO@IFFLA.NET WWW.IFFLA.NET. Tel.+7 495 650 5110, +7 495 699 7888 Skype/Twitter: IFFLA_RU

30 May 2012. Russia, 123001 Moscow Blagoveshchensky lane 5 INFO@IFFLA.NET WWW.IFFLA.NET. Tel.+7 495 650 5110, +7 495 699 7888 Skype/Twitter: IFFLA_RU 30 May 2012 Russia, 123001 Moscow Blagoveshchensky lane 5 Tel.+7 495 650 5110, +7 495 699 7888 Skype/Twitter: IFFLA_RU INFO@IFFLA.NET WWW.IFFLA.NET THANK YOU, PARTNERS: Fides Services Tailored Corporate

More information

Introducing Clinical Trials Insurance Services Ltd

Introducing Clinical Trials Insurance Services Ltd Introducing Clinical Trials Insurance Services Ltd Important Staff Richard Kelly Managing Director Richard joined CTIS in 2006 having previously managed the Pharmaceutical wholesale division at Heath Lambert

More information

Global Effective Tax Rates

Global Effective Tax Rates www.pwc.com/us/nes Global s Global s April 14, 2011 This document has been prepared pursuant to an engagement between PwC and its Client. As to all other parties, it is for general information purposes

More information

Digital TV Research. http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample

Digital TV Research. http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample Digital TV Research http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday: 5:30am -

More information

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU 92/2015-27 May 2015 Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU In the European Union (EU), household electricity prices 1 rose by

More information

World Consumer Income and Expenditure Patterns

World Consumer Income and Expenditure Patterns World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income

More information

AVIATION FINANCE THE IRISH SECTION 110 REGIME

AVIATION FINANCE THE IRISH SECTION 110 REGIME AVIATION FINANCE THE IRISH SECTION 110 REGIME Ireland - A Leading Aviation Jurisdiction Ireland is one of the leading locations in the world for all forms of aircraft finance and leasing activities. This

More information

Turkish Arab Economic Forum June 29, 2012. Mehmet Şimşek. Minister of Finance

Turkish Arab Economic Forum June 29, 2012. Mehmet Şimşek. Minister of Finance Turkish Arab Economic Forum June 29, 2012 Mehmet Şimşek Minister of Finance 1 Outline Turkey: Short Term Outlook Managing a Soft Landing Fallout from the Euro Crisis Turkey & MENA REBALANCING Growing ON

More information

193/2014-15 December 2014. Hourly labour costs in the EU28 Member States, 2012 (in )

193/2014-15 December 2014. Hourly labour costs in the EU28 Member States, 2012 (in ) 193/2014-15 December 2014 Labour Cost Survey 2012 in the EU28 Labour costs highest in the financial and insurance sector Three times higher than in the accommodation and food sector In 2012, average hourly

More information

Audio Conferencing Service Comprehensive Telecommunications Services Group Number 77017 Award Number 20268 Contract Number PS63110

Audio Conferencing Service Comprehensive Telecommunications Services Group Number 77017 Award Number 20268 Contract Number PS63110 Audio Conferencing Comprehensive Telecommunications s Number PS63110 Audio Conferencing, Function or Device Reservationless Conferencing Solution Setup Meeting Center Multimedia Minute - Self-, Automated

More information

U.S. Trade Overview, 2013

U.S. Trade Overview, 2013 U.S. Trade Overview, 213 Stephanie Han & Natalie Soroka Trade and Economic Analysis Industry and Analysis Department of Commerce International Trade Administration October 214 Trade: A Vital Part of the

More information

Triple-play subscriptions to rocket to 400 mil.

Triple-play subscriptions to rocket to 400 mil. Triple-play criptions to rocket to 400 mil. Global triple-play criptions will reach 400 million by 2017; up by nearly 300 million on the end-2011 total and up by 380 million on the 2007 total, according

More information

Bahrain Telecom Pricing International Benchmarking. April 2014

Bahrain Telecom Pricing International Benchmarking. April 2014 Bahrain Telecom Pricing International Benchmarking April 2014 2014 Contents of this report Report overview 3 PSTN basket results for GCC countries, including time series 4 Mobile basket results for GCC

More information

Electricity and natural gas price statistics 1

Electricity and natural gas price statistics 1 Electricity and natural gas price statistics 1 Source: Statistics Explained (http://epp.eurostat.ec.europa.eu/statistics_explained/) - 21/11/2011-09:11:44 Electricity and natural gas price statistics Data

More information

Perrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers

Perrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers Perrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers On November 18, 2013, Perrigo Company ( Perrigo ) announced that its shareholders

More information

1. Perception of the Bancruptcy System... 2. 2. Perception of In-court Reorganisation... 4

1. Perception of the Bancruptcy System... 2. 2. Perception of In-court Reorganisation... 4 Bankruptcy Systems and In-court Reorganisation of Firms, 2010 Content: 1. Perception of the Bancruptcy System... 2 2. Perception of In-court Reorganisation... 4 3. Perception of Creditor Committees, Fast

More information

Consumer Credit Worldwide at year end 2012

Consumer Credit Worldwide at year end 2012 Consumer Credit Worldwide at year end 2012 Introduction For the fifth consecutive year, Crédit Agricole Consumer Finance has published the Consumer Credit Overview, its yearly report on the international

More information

The VAT & Invoicing Requirements Update March 2012

The VAT & Invoicing Requirements Update March 2012 The VAT & Invoicing Requirements Update March 2012 Indirect taxes are a massive potential expense. For buyers and sellers of goods and services, how invoices are prepared and processed can affect a company's

More information

Statistical Data on Women Entrepreneurs in Europe

Statistical Data on Women Entrepreneurs in Europe Statistical Data on Women Entrepreneurs in Europe September 2014 Enterprise and Industry EUROPEAN COMMISSION Directorate-General for Enterprise and Industry Directorate D SMEs and Entrepreneurship Unit

More information

187/2014-5 December 2014. EU28, euro area and United States GDP growth rates % change over the previous quarter

187/2014-5 December 2014. EU28, euro area and United States GDP growth rates % change over the previous quarter 187/2014-5 December 2014 This News Release has been revised following an error in the data for Gross Fixed Capital Formation. This affects both the growth of GFCF and its contribution to GDP growth. All

More information

World Solution Provider

World Solution Provider GE Consumer & Industrial World Solution Provider GE imagination at work GE Six businesses aligned with our customers needs, acting as one company. Harnessing the imaginations of more than 300,000 people

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students who want to take a full Master's-level

More information

International Institute of Business Analysis. Salary Survey Report

International Institute of Business Analysis. Salary Survey Report International Institute of Business Analysis Salary Survey Report December 15, 2013 Introduction International Institute of Business Analysis (IIBA) is the independent, nonprofit, professional association

More information

THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY

THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY Ideal Characteristics for the Location of an International Holding Company Laurence Binge +44 (0)1372 471117 laurence.binge@woolford.co.uk www.woolford.co.uk

More information

The investment fund statistics

The investment fund statistics The investment fund statistics Narodowy Bank Polski (NBP) publishes data reported by investment funds which have been defined in Art. 3 section 1 of the Act of 27 May 2004 on investment funds (Journal

More information

99/2015-9 June 2015. EU28, euro area and United States GDP growth rates % change over the previous quarter

99/2015-9 June 2015. EU28, euro area and United States GDP growth rates % change over the previous quarter 2005Q1 2005Q2 2005Q3 2005Q4 2006Q1 2006Q2 2006Q3 2006Q4 2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1

More information

International Higher Education in Facts and Figures. Autumn 2013

International Higher Education in Facts and Figures. Autumn 2013 International Higher Education in Facts and Figures Autumn 2013 UK Higher Education International Unit International higher education in facts and figures covers the majority of the UK higher education

More information

VAT Refunds Irrecoverable Tax A Country by Country Detailed Guide

VAT Refunds Irrecoverable Tax A Country by Country Detailed Guide VAT Refunds Irrecoverable Tax A Country by Country Detailed Guide EC VAT refunds Irrecoverable Tax VAT incurred in other EC Member States may be recovered in certain circumstances. However, some claims

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

Contract Work in Switzerland. A Brief Guide

Contract Work in Switzerland. A Brief Guide Contract Work in Switzerland. A Brief Guide Introduction to Swissroll There are approximately 1,000,000 foreign employees in Switzerland, 25% of which commute from outside the country. Swissroll are registered

More information

Vodafone encourages customers to go on roamin holiday. ~ Vodafone uses worldwide scale to slash international data roaming charges ~

Vodafone encourages customers to go on roamin holiday. ~ Vodafone uses worldwide scale to slash international data roaming charges ~ news release April 16, 2008 Vodafone encourages customers to go on roamin holiday ~ Vodafone uses worldwide scale to slash international data roaming charges ~ Vodafone Australia today launched two international

More information

DOING BUSINESS IN SINGAPORE

DOING BUSINESS IN SINGAPORE DOING BUSINESS IN SINGAPORE INTRODUCTION Singapore is often regarded as one of the world s easiest place to do business (e.g. Doing Business 2012 report by the World Bank). Singapore has excellent infrastructure,

More information

U.S. Salary Increase Survey Highlights

U.S. Salary Increase Survey Highlights Consulting Performance, Reward & Talent 2012 2013 U.S. Salary Increase Survey Highlights We ask each participating company to treat these survey findings with the greatest confidence. The findings are

More information

Netherlands Country Profile

Netherlands Country Profile Netherlands Country Profile EU Tax Centre March 2012 Key factors for efficient cross-border tax planning involving Netherlands EU Member State Yes Double Tax Treaties With: Albania Czech Rep. Jordan Nigeria

More information

www.pwc.com/pk An Update on Foreign Account Tax Compliance Act (FATCA) July 11, 2014 A. F. FERGUSON & CO. A member firm of the PwC network

www.pwc.com/pk An Update on Foreign Account Tax Compliance Act (FATCA) July 11, 2014 A. F. FERGUSON & CO. A member firm of the PwC network www.pwc.com/pk An Update on Foreign Account Tax Compliance Act (FATCA) July 11, 2014 2 General The deadline for agreeing in-substance IGA with the US government expired on June 30, 2014. Pakistan, which

More information

Ireland Country Profile

Ireland Country Profile Ireland Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Ireland EU Member State Yes Double Tax Treaties With: Albania Armenia Australia

More information

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund Income INTECH Global Income Managed Volatility Fund Australia 0.0066 0.0375 Austria 0.0045 0.0014 Belgium 0.0461 0.0138 Bermuda 0.0000 0.0059 Canada 0.0919 0.0275 Cayman Islands 0.0000 0.0044 China 0.0000

More information

HONG KONG RIGHT PLACE RIGHT TIME RIGHT NOW

HONG KONG RIGHT PLACE RIGHT TIME RIGHT NOW HONG KONG RIGHT PLACE RIGHT TIME RIGHT NOW European Investment in China via Hong Kong Charles Ng Associate Director-General of Investment Promotion 22 May 2012 Agenda Changing Trends in the type of companies

More information

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in

More information

Schedule of Accreditation issued by United Kingdom Accreditation Service 21-47 High Street, Feltham, Middlesex, TW13 4UN, UK

Schedule of Accreditation issued by United Kingdom Accreditation Service 21-47 High Street, Feltham, Middlesex, TW13 4UN, UK Schedule of United Kingdom Service 21-47 High Street, Feltham, Middlesex, TW13 4UN, UK ISO/IEC 17021:2011 to provide environmental management systems certification Kitemark Court Davy Avenue Knowlhill

More information

INTERNATIONAL OVERVIEW John Wilkinson SVP Sales & Products

INTERNATIONAL OVERVIEW John Wilkinson SVP Sales & Products INTERNATIONAL OVERVIEW John Wilkinson SVP Sales & Products DE- C I X N G N L A U N C H E V E N T 2 Introduction XConnect provides secure, managed ENUM Registries and SIP based peering services to enable

More information

Vodafone Traveller and Vodafone World

Vodafone Traveller and Vodafone World Vodafone Traveller and Vodafone World A. What Terms and Conditions Apply to my Vodafone Traveller and Vodafone World Product? (a) The terms and conditions that will apply to your Product or Products are:

More information

Global Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840

Global Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840 Below is a list of Global Access Numbers, in order by country. If a Country has an AT&T Direct Number, the audio conference requires two-stage dialing. First, dial the AT&T Direct Number. Second, dial

More information

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The UK Social

More information

Your Business Connection

Your Business Connection Your Business Connection What Kompass can do for you: Provide highly targeted leads Give in depth information about a company s structure and activity Help with market research and prospect evaluation

More information

2011 ICT Facts and Figures

2011 ICT Facts and Figures The World in 211 ICT Facts and Figures One third of the world s population is online 45% of Internet users below the age of 25 Share of Internet users in the total population Users, developed Using Internet:

More information

UAE TAX. Personal Tax

UAE TAX. Personal Tax UAE TAX This document aims to provide a brief outline of the laws and treaties in force in the UAE, an overview of the taxation regime in the UAE including a summary of the UAE double taxation treaties

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS Ref. Ares(2015)660570-17/02/2015 ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students

More information

TRANSFERS FROM AN OVERSEAS PENSION SCHEME

TRANSFERS FROM AN OVERSEAS PENSION SCHEME PENSIONS PROFILE DECEMBER 2011 TRANSFERS FROM AN OVERSEAS PENSION SCHEME = Summary A simplified guide to the process: 1. Individual requests transfer from their overseas pension scheme to their UK registered

More information

List of tables. I. World Trade Developments

List of tables. I. World Trade Developments List of tables I. World Trade Developments 1. Overview Table I.1 Growth in the volume of world merchandise exports and production, 2010-2014 39 Table I.2 Growth in the volume of world merchandise trade

More information

Hungary is the 48th on the global economic freedom ranking

Hungary is the 48th on the global economic freedom ranking Hungary is the 48th on the global economic freedom ranking According to the latest index on economic freedom prepared by the Wall Street Journal and the Heritage Foundation (Index of Economic Freedom),

More information

Bahrain Telecom Pricing

Bahrain Telecom Pricing Bahrain Telecom Pricing International Benchmarking December 2015 2015 Disclaimer This benchmarking report contains information collected by an independent consultant commissioned by the Telecommunications

More information

COST Presentation. COST Office Brussels, 2013. ESF provides the COST Office through a European Commission contract

COST Presentation. COST Office Brussels, 2013. ESF provides the COST Office through a European Commission contract COST Presentation COST Office Brussels, 2013 COST is supported by the EU Framework Programme ESF provides the COST Office through a European Commission contract What is COST? COST is the oldest and widest

More information

International aspects of taxation in the Netherlands

International aspects of taxation in the Netherlands International aspects of taxation in the Netherlands Individuals resident in the Netherlands are subject to income tax on their worldwide income. Companies established in the Netherlands are subject to

More information

Brochure More information from http://www.researchandmarkets.com/reports/1339929/

Brochure More information from http://www.researchandmarkets.com/reports/1339929/ Brochure More information from http://www.researchandmarkets.com/reports/1339929/ The 2011 World Forecasts of Machine Tools That Remove Material by Laser or Light, Photon, Ultrasonic, Electro-Discharge,

More information

How Many Students Finish Tertiary Education?

How Many Students Finish Tertiary Education? Indicator How Many Students Finish Tertiary Education? Based on current patterns of graduation, it is estimated that an average of 46% of today s women and 31% of today s men in OECD countries will complete

More information

Monthly Report on Asylum Applications in The Netherlands and Europe

Monthly Report on Asylum Applications in The Netherlands and Europe Asylum Trends Monthly Report on Asylum Applications in The Netherlands and Europe November 2013 2014 November 2014 Colophon Title Subtitle Author Asylum Trends Monthly Report on Asylum Applications in

More information

Labour Force Survey 2014 Almost 10 million part-time workers in the EU would have preferred to work more Two-thirds were women

Labour Force Survey 2014 Almost 10 million part-time workers in the EU would have preferred to work more Two-thirds were women 75/2015-27 April 2015 Labour Force Survey 2014 Almost 10 million part-time workers in the EU would have preferred to work more Two-thirds were women Among the 44.1 million persons in the European Union

More information

Oppor o t r unit i ie i s e s W it i hin i T h T e e M alt l e t s e e s e Fin i ancia i l l S ec e to t r o Banking

Oppor o t r unit i ie i s e s W it i hin i T h T e e M alt l e t s e e s e Fin i ancia i l l S ec e to t r o Banking Opportunities Within The Maltese Financial Sector Banking Growth of the Industry Malta s international banking centre has been gaining considerable ground in establishing itself as a finance hub in the

More information

Raveh Ravid & Co. CPA. November 2015

Raveh Ravid & Co. CPA. November 2015 Raveh Ravid & Co. CPA November 2015 About Us Established in 1986 by Abir Raveh, CPA & Itzhak Ravid, CPA 6 Partners, 80 employees Located in Tel Aviv, Israel wide range of professional services highly experienced

More information

DEMOGRAPHICS AND MACROECONOMICS

DEMOGRAPHICS AND MACROECONOMICS 1 UNITED KINGDOM DEMOGRAPHICS AND MACROECONOMICS Data from 2008 or latest available year. 1. Ratio of over 65-year-olds the labour force. Source: OECD, various sources. COUNTRY PENSION DESIGN STRUCTURE

More information

The Structure of the European Education Systems 2014/15:

The Structure of the European Education Systems 2014/15: The Structure of the European Education Systems 2014/15: Schematic Diagrams November 2014 Eurydice Facts and Figures Education and Training at is Eurydice The Eurydice Network provides information on and

More information

Appendix 1: Full Country Rankings

Appendix 1: Full Country Rankings Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable

More information

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country.

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country. Aon Hewitt Country Profiles Your eguide to employment requirements and practices Profiles for nearly 90 countries worldwide Risk. Reinsurance. Human Resources. Know the Facts Whether you are a newcomer

More information

EMEA BENEFITS BENCHMARKING OFFERING

EMEA BENEFITS BENCHMARKING OFFERING EMEA BENEFITS BENCHMARKING OFFERING COVERED COUNTRIES SWEDEN FINLAND NORWAY ESTONIA R U S S I A DENMARK LITHUANIA LATVIA IRELAND PORTUGAL U. K. NETHERLANDS POLAND BELARUS GERMANY BELGIUM CZECH REP. UKRAINE

More information

Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details

Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details White Paper Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details What You Will Learn The Cisco Global Cloud Index is an ongoing effort to forecast the growth of global data center and

More information

PART TWO POLICIES FOR ADJUSTMENT AND GROWTH

PART TWO POLICIES FOR ADJUSTMENT AND GROWTH PART TWO ICIES FOR ADJUSTMENT AND GROWTH Economic Survey of Europe, 22 No. 1 CHAPTER 4 TECHNOLOGICAL ACTIVITY IN THE ECE REGION DURING THE 199s While the task of estimating the contribution of technical

More information

Taxation trends in the European Union EU27 tax ratio fell to 39.3% of GDP in 2008 Steady decline in top corporate income tax rate since 2000

Taxation trends in the European Union EU27 tax ratio fell to 39.3% of GDP in 2008 Steady decline in top corporate income tax rate since 2000 DG TAXUD 95/2010-28 June 2010 Taxation trends in the European Union EU27 tax ratio fell to 39.3% of GDP in 2008 Steady decline in top corporate income tax rate since 2000 The overall tax-to-gdp ratio 1

More information

Postal rates. As of January 2015

Postal rates. As of January 2015 Postal rates As of January 2015 Sending mail within the Netherlands or to another country? Whatever it is you wish to send, you can count on our services. This leaflet will provide you with the postal

More information

Euler Hermes the world leader in credit insurance RISK ASSESSMENT CREDIT INSURANCE DEBT COLLECTION

Euler Hermes the world leader in credit insurance RISK ASSESSMENT CREDIT INSURANCE DEBT COLLECTION Euler Hermes the world leader in credit insurance RISK ASSESSMENT CREDIT INSURANCE DEBT COLLECTION Agenda 1 The Euler Hermes group 2 Our business 3 Our products and solutions 4 Our added value 2 The Euler

More information

ENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT. EU Schengen States. Non-Schengen EU States. Non-EU Schengen States.

ENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT. EU Schengen States. Non-Schengen EU States. Non-EU Schengen States. ENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT An area without internal borders where EU citizens and non-eu nationals may move freely EU Schengen States Non-Schengen EU States IS Azores

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students who want to take a full Masters level

More information

The Community Innovation Survey 2010 (CIS 2010)

The Community Innovation Survey 2010 (CIS 2010) The Community Innovation Survey 2010 (CIS 2010) THE HARMONISED SURVEY QUESTIONNAIRE The Community Innovation Survey 2010 FINAL VERSION July 9, 2010 This survey collects information on your enterprise s

More information

Funding and network opportunities for cluster internationalization

Funding and network opportunities for cluster internationalization BSR Innovation Express: Cluster- to- Cluster Conference Funding and network opportunities for cluster internationalization Jens Peter Vittrup Special Adviser Email: jpv@ai.dk Why international R&I cooperation?

More information

Fall 2015 International Student Enrollment

Fall 2015 International Student Enrollment Fall 2015 International Student Enrollment Prepared by The Office of International Affairs Nova Southeastern University Nova Southeastern University International Student Statistics Fall 2015 International

More information

The education system and lifelong learning in Finland. October 2015 Petri Haltia

The education system and lifelong learning in Finland. October 2015 Petri Haltia The education system and lifelong learning in Finland October 2015 Petri Haltia FINLAND Population: year 2012: 5,421,827 density: 16/km 2 Area: total 338,424 km 2 water 10 % GDP (nominal) 2011 estimate:

More information

What it costs. Pay as you go.

What it costs. Pay as you go. What it costs Pay as you go. Price Plans and call charges for pay as you go customers. After 1 July 2014 2 Price Plans Everyday plan When you first join us on pay as you go, you ll automatically join our

More information

COMMUNICATION FROM THE COMMISSION

COMMUNICATION FROM THE COMMISSION EUROPEAN COMMISSION Brussels, 17.9.2014 C(2014) 6767 final COMMUNICATION FROM THE COMMISSION Updating of data used to calculate lump sum and penalty payments to be proposed by the Commission to the Court

More information

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI performance and potential rankings Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI perfomance index The Inward FDI Performance Index ranks countries by the FDI they receive relative

More information

The Tax Burden of Typical Workers in the EU 28 2014 Edition. James Rogers & Cécile Philippe May 2014. (Cover page) Data provided by

The Tax Burden of Typical Workers in the EU 28 2014 Edition. James Rogers & Cécile Philippe May 2014. (Cover page) Data provided by (Cover page) The Tax Burden of Typical Workers in the EU 28 2014 Edition NEW DIRECTION Page 1 of 17 James Rogers & Cécile Philippe May 2014 New Direction aims to help shift the EU onto a different course

More information

The structure of the European education systems 2012/13: schematic diagrams

The structure of the European education systems 2012/13: schematic diagrams What is Eurydice The Eurydice Network provides information on and analyses of European education systems and policies. It consists of 38 national units based in all 34 countries participating in the EU's

More information

GfK PURCHASING POWER INTERNATIONAL

GfK PURCHASING POWER INTERNATIONAL GfK PURCHASING POWER INTERNATIONAL 1 Agenda 1. Europe 3 2. Americas 45 3. Asia & Near East 54 4. Afrika 66 5. Australia 68 6. Overview of countries and available levels 70 2 2 EUROPE 4 GfK

More information

THE ROLE, RESPONSIBILITIES AND OBLIGATIONS OF THE SHIP AGENT IN THE INTERNATIONAL TRANSPORT CHAIN

THE ROLE, RESPONSIBILITIES AND OBLIGATIONS OF THE SHIP AGENT IN THE INTERNATIONAL TRANSPORT CHAIN THE ROLE, RESPONSIBILITIES AND OBLIGATIONS OF THE SHIP AGENT IN THE INTERNATIONAL TRANSPORT CHAIN A ship agent is any person or company that carries out the functions of an agent (see the following slide),

More information

The Tax Burden of Typical Workers in the EU 27 2013 Edition

The Tax Burden of Typical Workers in the EU 27 2013 Edition (Cover page) The Tax Burden of Typical Workers in the EU 27 2013 Edition James Rogers & Cécile Philippe May 2013 Data provided by NEW DIRECTION Page 1 of 16 The Tax Burden of Typical Workers in the EU

More information

- Malta - Asset Trading & Holding Tax Efficient Structuring - an overview -

- Malta - Asset Trading & Holding Tax Efficient Structuring - an overview - - Malta - Asset Trading & Holding Tax Efficient Structuring - an overview - Presentation provided for general informational purposes only; to provide a general overview of the pertinent aspects of Malta

More information