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According to Malta’s Minister of Finance, Prof Edward Scicluna, Malta’s full imputation tax system would stay ‘intact’.
The confirmation that Malta’s full imputation system would not have to be dismantled or changed into a classical one is the result of discussions which started with the adoption of the Anti-Tax Avoidance Directive (ATAD) in June 2016, part of the European Commission’s efforts to show that it was taking the issue as seriously as the OECD and the G20.
“We had been emphasising to the OECD and the presidency that we would not allow any legislation which would destroy overnight our full imputation system,” he said, stressing that Malta had been quite ready to use its veto.
The Finance Minister pointed out that: ‘Our attractive regime is still there and Malta, which has no other resources, will always consider tax as an instrument to keep the island competitive.”
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