Tax regime promoted in US

George Mangion, a partner of PKF (Malta), attended a three-day, international tax and business conference held at the InterContinental Hotel, Miami, USA.

Tax harmonisation within the Europe Union was discussed in detail.

Mr Mangion was one of the speakers on the panel and contributed in promoting Malta's favourable tax regime. He discussed the government's initiatives to promote competition and innovation by maintaining a transparent and tax efficient regime.

He also mentioned the special study prepared and discussed by the MCESD with regard to Malta's taxation levels as compared with other new members states of the EU.

He discussed and explained the advantages of the full tax imputation system, which benefits the shareholders upon distribution of taxed profits. In effect this means that corporation tax in Malta is effectively non-existent since upon distribution of dividends it is the individual tax rate of the shareholders that applies.