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Analysis MALTA - PART II


the Maltese squeeze


Malta’s position as the choice destination for online gaming licensing is curently under threat across the EU as member countries seek to restrict and licence their own markets


During the 1990s, prior to Malta’s entry into the EU, the country was, to all intents and purposes, an offshore jurisdiction which relied primarily on tourism to fuel its economy.


And although Malta’s traditional reputation as a holiday destination still continues, since the country joined the European Union in 2004 and adopted the Euro in 2008 it has managed to turn itself into a highly attractive investment location.


It has become known as a region of IT and financial services and together with legislative systems which have been implemented over the last 15 or so years, the country has managed to create a very solid and steady business structure.


It has established itself as one of the most attractive and reputable business centres in Europe and is today white listed by the Organisation for Economic Co-operation & Development.


Meanwhile Malta has embraced the online gaming revolution openly and today hundreds of licensed operators and service providers now base themselves on this small island thanks to the tight regulations and stringent supervision on offer.


Within the remote gaming sector Malta Your


ticks all the boxes when it comes to a prime destination for setting up and running a business and has become home to 250 remote gaming companies holding over 350 licenses.


The country’s online gaming revenues reached €19m in 2009, an increase of 53.3 per cent from the previous year. The sector employs some 5,200 people who are estimated to contribute some 10 per cent of the internet gambling industry globally.


It is currently the most popular jurisdiction for remote gaming operators to base their business and provide their services across Europe. This is mainly due to the fact it has always had a solid and serious regulatory regime in place which is relatively free from crime and money laundering.


One of the key factors in luring business to the island is its legal tax and general infrastructural advantages. Malta offers various levels of tax refunds on dividends, coupled with a network of double taxation treaties with over 40 countries. There are also reduced tax liabilities for shareholders whilst no Maltese withholding tax is applied on the distribution of dividends to shareholders of Maltese companies.


Companies incorporated in Malta and C Companies


incorporated in Malta and


considered resident only pay a flat rate taxation of 35 per cent on their


worldwide income. However


shareholders of


Malta registered companies are


entitled to benefits from a tax refund when the profits are


distributed by way of dividend amounting to 6/7ths of the tax paid by the company.


considered resident only pay a flat rate taxation of 35 per cent on their worldwide income. However shareholders of Malta registered companies are entitled to benefits from a tax refund when the profits are distributed by way of dividend amounting to 6/7ths of the tax paid by the company. For shareholders, non- resident in Malta, for tax purposes this means the effective rate of tax is five per cent on profit.


Meanwhile Malta does not impose any withholding tax upon distributions on outbound dividends to shareholders who are resident in other jurisdictions. In addition the country offers an educated and English speaking workforce, an impressive banking sector and Central European Time zone.


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