Every company in Malta is required to have its financial statements audited by a qualified auditor/firm of auditors regulated under the Accountancy Profession Act. ADD+ has reliable, trusted, audit practitioners who provide clients with professional audit and assurance coordination of the company’s audits.
ADD+ Financial Advisory and Accounting professionals works with our firms’ clients to help them achieve compliance, advising on how they might organize their financial reporting processes and helping ensure that accounting operations match the objectives of the business. We also provide comprehensive solutions to our clients in the Public and Private sectors that address your financial accounting challenges.
ADD+ combines and consolidates a broad spectrum of corporate and administrative services in conjunction with its Corporate Services sector. They range from registered office, process agent, resident agent and fiduciary shareholder services to company secretarial services and the maintenance of statutory records, such as Registered of Members, Minute Books and the filing of Annual Returns and other statutory forms.
ADD+ through its subsidiary companies can offer your Maltese registered company the service of back office administration. Back office administration services are also provided to individuals or to companies outside Malta wishing to have an operating presence in Malta.
The use of these facilities will ensure that your mail, e-mail and communication is relayed through Malta thus keeping the company’s administration centred in Malta. Back office services used in conjunction with the operation of the company’s Maltese bank account, makes the Maltese registered seen with a physical presence and therefore not as a tax avoidance structure by the tax authorities in the country where the company actually carries out its business or in any country of the beneficial owner’s tax residence.
The Income Tax Act also imposes a tax on transfers of immovable property situated in Malta, which is calculated by reference to the value of the property. The property transfer tax rate is 5%, 8% or 10%, depending on the circumstances, and it is payable in lieu of the tax on the profits derived from the transfer. The Income Tax Act also provides for various special schemes, including special rules on trusts, investment income, residence programmes, retirement programmes and the employment of highly qualified personnel.
At times a beneficial owner may need his/her identity to be confidential. A Maltese company may have a fiduciary shareholder appearing on behalf of the beneficial owner. These fiduciary companies are licensed by the Malta Financial Services Authority (MFSA) under the Trusts and Trustee Act.
Maltese companies are based in the EU and therefore provide a viable solution to accommodate various requirements. This is amalgamated by Malta’s competitive tax system, an extensive network of Double Taxation Agreements with over 70 countries, and the islands English speaking and enterprising workforce. All these factors make Malta an increasingly popular business destination for interested parties all over the world.
When the shareholders of a company decide to close, dissolve or liquidate a company, the Companies Act requires certain procedures to be followed. The process is called the liquidation process, which necessitates the appointment of a liquidator to see the process through.
ADD+ has a dedicated payroll team that is fully compliant with all laws and regulations to assist clients with their payroll requirements where the outsourcing of payroll is required. Our confidential, accurate and customised payroll caters for all formalities under one payroll umbrella.
Value Added Tax (VAT), is an indirect tax charged on most business-to-business and business-to-consumer transactions in all EU countries and in a number of other countries. The standard VAT rate is 18%, there is also a reduced rate of 5%, and certain suppliers are exempt from VAT, with or without credit.