US-Malta double taxation agreement nears

Talks between Malta and the United States on a new double taxation agreement are "in their final leg" and the agreement is expected to be signed soon, Foreign Minister Michael Frendo said.

Speaking at a press conference with US Ambassador Molly Bordonaro and Parliamentary Secretary Tonio Fenech, Dr Frendo said concluding formal negotiations (after substantive detailed agreement at the informal stage) had been started.

Dr Frendo said the double taxation agreement would be “an important part of the legal infrastructure for business and investment”.

He said that over the past four years double taxation agreements were signed with the United Arab Emirates, Singapore, Spain, Greece, Iceland and San Marino. The double taxation agreements with Switzerland and Jordan have been concluded and are ready for signature.