Insights

The fiscal unity regime introduced in Malta allows groups to elect to be treated as a single taxpayer.

This article focuses on the practical audit considerations surrounding collective investment schemes (CISs), with particular attention on the financial statement line items (FSLIs) that typically drive audit risk and the complexities surrounding valuation, completeness, investor transactions and financial risk disclosures.

The VAT treatment of fund management has long been shaped by a specific exemption under Article 135(1)(g) of the VAT Directive (2006/112/EC). This provision requires Member States to exempt the “management of special investment funds as defined by Member States.” In Malta, this provision is implemented through Item 3(6) of Part Two of the Fifth Schedule to the VAT Act, which treats the management of special investment funds as an exempt without credit supply.

In many organisations, when a problem appears the instinct is to escalate. Managers turn to HR; teams look to leadership and solutions are expected to come from a small group of experts, and this is becoming increasingly unsustainable.

These provisions introduce targeted amendments to the financial reporting and filing framework under the Companies Act, with particular relevance to companies subject to European Single Electronic Format (“ESEF”) reporting requirements.

‍As AI reshapes how businesses are positioned, and chosen as service providers, a subtle but important shift is taking place. The businessesgaining ground are not necessarily those producing themostcontent or increasing their visibility. They are the ones that are easier to understand.

The first edition of our 2026 VAT Newsletter is out now!

Today, 6th April 2026, the Commissioner for Tax and Customs has issued new guidelines setting out the gambling and betting activities that will benefit from the VAT exemption under the amended law.