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Accounting Services in Malta

Malta is a small island country in the Mediterranean Sea, but its size does not reflect its economic power and importance in the European Union. The island relies heavily on tourism, but trade and manufacturing are also powerful economic sectors. Our accountants in Malta are ready to offer you the best accounting services if you choose to open a business in the small, sunny island country.
 

Affiliations


Ciantar Associates (Accountant-Malta.com) is a partner of BridgeWest for many years and is licensed by the Malta Financial Services Authority, as well as by the  Malta Institute of Accountants as Auditors. Our firm is also a member of other important organizations, among which the AGN International and the Institute of Financial Services Practitioners.

 
 


Our accountants in Malta will help you know everything about the taxation system in Malta and all the benefits for foreign investors. The double taxation treaties that Malta signed with more than 50 countries ensure that entrepreneurs are protected from double taxation. You can rely on our accounting firm in Malta no matter if you run a small, medium or large-sized business in this country.
 

Services provided by our Malta tax advisors


With a proven track record in the accounting and bookkeeping fields, our Maltese accountants have a great experience in offering a wide range of services, among which:
 

  1. tax consultancy and planning for your company in order for you to measure your results and draft realistic plans;
  2. audit services for your company, no matter if imposed by the law or you simply want to audit the performance of your business;
  3. bookkeeping services which are necessary from the very beginning of your activity in Malta;
  4. payroll services in order for you not to worry about your employees’ salaries and documents which need to be prepared when paying them;
  5. forensic accounting in case your company will find itself in the position of needing such services;
  6. financial statement preparation and filing services, including VAT return filings for your Maltese business.


If you need any other service than the ones mentioned above, our accountants in Malta are at your disposal.
 

Reporting requirements for companies in Malta


The management of Maltese companies does not mean only taking decisions related to activities of the business, but a great part of work implies the correct use of the funds the company has. However, the money a Maltese business relies on must be administered and proper documents should account for them. The preparation of these documents rests on the accounting department. However, many companies request accounting services from specialized firms in Malta.

An accounting company can make sure the International Financial Reporting Standards are complied with and the balance sheets and other accounting documents are drafted and submitted in a timely manner with the Inland Revenue Department in Malta.

 

What accounting documents must a Maltese company keep?


In order to better understand the accounting services a Maltese company can benefit from, below is the list of the records and documents a company must keep:
  •  records on all the transactions of the company;
  •  the balance with the assets and liabilities of the company;
  •  accounting documents related to the share sales and purchases of the company.

Additionally, the directors of Maltese companies must prepare their own reports on the company’s accounting which will be presented during the shareholders’ annual general meeting. Audited accounts must also be presented at the same meeting.

 

Special accounting services in Malta


Our team of accountants in Malta can help you draw up the monthly trial balance, establish the monthly and quarterly payment obligations, prepare and submit the annual financial services, as required by the law.

The accuracy of the accounting and financial information guarantees the credibility of the company and protects it from unfortunate events, such as bankruptcy. 

Our team of accountants in Malta provides a wide range of accountancy and accountancy-related services, suited to your specific business needs. Some of the services we provide are:
  • complete financial and management accounting;
  • tax consultancy;
  • performing audits for your company;
  • monthly trial balance;
  • annual financial statements preparation;
  • VAT journals;
  • tax register and many more.


You can also read about our accounting services in Malta in the scheme below:

Accounting Services in Malta


What type of audit services are available in Malta?

 
Local statutory audits, a complete review of the financial information of the firm, financial statement audits plus other important procedures are available for companies with establishments in Malta. Companies with activities in the retail sector, banking, insurance, real estate, manufacturing, gaming companies, and mining require audits in Malta, in compliance with the Maltese legislation. Our team of accountants in Malta has extensive experience in audits for Maltese companies, therefore, once you register your business in this country, you should solicit the services of our accounting firm in Malta.
 

Tax consultancy services in Malta


Our CPA Malta accountants can provide tax consultancy and planning services in accordance with your vision on the business. The general perception is that only small businesses in their first year of activity need tax consultancy services, however, owners of medium and large companies also find themselves in the position of asking for such services when they want to increase their revenue, enter new markets or expanding their portfolios. This is where our accountants in Malta can propose tax solutions which will help business owners achieve their purposes without spending too much money.

Our accounting firm in Malta can draft realistic projections and let you know if your plans can be achieved the way you want or if you need to take additional steps or measures to realize them.
Planning is another important aspect when running a business in Malta and the key to a successful business is knowing how the industry you work it will perform based on past data and projections. Our accountants can compile this data and advise on how you take advantage of it in order for your company to have a great future ahead.

We also remind you that our auditors in Malta can perform on-demand audits after which the current financial status of your company is assessed and solutions to improve can be proposes.
 

Bookkeeping services in Malta


Bookkeeping is the most important part of the accounting in a company in Malta as it implies registering all the invoices and daily accounting documents entering and exiting a firm. Bookkeeping implies keeping updated all the financial records of a company all the time which can be time-consuming. This is why our accountants in Malta offer specialized bookkeeping services which are based on the use of specialized software and thus ensure correct maintenance of all accounting documents.

Among the daily accounting documents which can enter or exit your firm, we mention sale and purchase invoices, invoices when renting office spaces, supply purchase invoices and payslips.

You can rely on our accounting firm in Malta for tailored bookkeeping services.
 

Forensic accounting services in Malta


Forensic accounting implies specialized investigations of a company’s accounting documents. Even if this not a service to be often contracted, it is good to know that if you ever find yourself and your company in the position of requesting such services, our accountants in Malta can help you.

We can gather and analyze all the documents which need to be submitted as proof when undergoing an investigation or we can simply advise in financial disputes when these imply specialized forensic accountants.

 

Payroll services in Malta


Payroll is one of the most important aspects related to the accounting of a Maltese company. Even if most companies in this country are small and medium-sized, they too must comply with the regulations imposed by the tax and social security authorities in the country.

With the help of our accountants in Malta, payroll no longer needs to be a stress on business owners, as we have the expertise to handle any employment and payroll issue in their companies. Moreover, any change in the legislation which impacts the employees in a company does not go unnoticed, as we are always up to date with the latest regulations imposed on companies from an employment point of view.

Payroll is one of the most sensitive matters in a company, which is why many Maltese business owners choose to outsource the HR department which also relates to payroll in order to not put too much pressure on their in-house accounting department, or even more, because they want the services of specialists in this field alone.

Below, we present you the main payroll services you can obtain with our accounting firm in Malta:
 

  • employment contracts drafting, amendment and termination;
  • representation with the labor, tax and social security authorities in Malta;
  • preparation of the payroll in accordance with the legal requirements imposed by the tax and labor authorities;
  • preparation of monthly, quarterly and annual payroll statements filings;
  • personal income tax annual settlements;
  • preparation and distribution of monthly payslips and salaries;
  • social contributions preparation and payment;
  • data input in the payroll system.

Considering the personal income tax is levied on a progressive basis, working with accounting firms in Malta is often the choice of foreign businessmen with companies here.

If you decide to work with our accountants in Malta, you can rest assured that every aspect related to the payroll and employment matters in your company will in the hands of accredited accountants.
 

Dedicated accounting and audit services in various Maltese cities


Because we want to be as close as possible to our clients, we offer accounting services in various cities in the country. You can discuss with our accountants in Valetta if your business is located in the capital city of Malta. Our dedicated team of accountants and auditors can handle any accounting matter of your business in Valetta.

You can also find us in Birkirkara, another important city in Malta. All the services available in Valetta are also at your disposal in Birkirkara.

We invite you to discuss with our accountants in Birkirkara and find out the best option for you.

 

Other services in Malta


Our accountants in Malta are ready to provide complete audit services for your company. Our bookkeepers can help prepare your company for a financial audit by making sure that all the necessary financial documents are in order. They can periodically check if your company fulfills all the requirements regarding specific financial statements so that at any given time the company’s financial situation is under control.
 

Taxation in Malta


Taxation is one of the most important parts of doing business in Malta and in order to get familiarized with it, one is encouraged to discuss it with an accountant. However, the Maltese legislation requires companies to work with Malta CPA accountants when it comes to bookkeeping and accounting matters.

Given the fact that Malta’s tax system is quite unique, especially when it comes to the corporate tax which can be reduced from the standard rate of 35% to only 5% for shareholders of companies, working with competent accountants who can help them obtain this reduced rate becomes very important.

Here are a few interesting facts about Malta’s taxation system:
 
  • the personal income tax is levied progressively and starts at 0%, while the highest rate is 35%;
  • the corporate tax is levied at the 35% standard rate, however, it can drop to 5% in specific circumstances;
  • an important tax in Malta is the value added which has a standard rate of 18%, but is also applied at lower rates of 7% and 5%;
  • companies must also pay social security taxes as employees which is equal to 10% of an employee’s weekly salary;
  • stamp duty of 5% is also levied on the transfer of immovable property in Malta.

Maltese companies are subject to the International Financial Reporting Standards (IFRS) or the General Accounting Principles for Small and Medium-sized Entities (GAPSME). They are also required to file annual financial statements.

If you want to start a business in Malta, our accountants can be by your side from the beginning, meaning we can assist with the following:
 
  • VAT registration (including obtaining the EORI number for trading companies);
  • tax and payroll setup;
  • assistance in drafting labor contracts;
  • tax consultancy.


All our accounting services in Malta are provided in accordance with the specific activities of the company, while our accountants are at your disposal for answering any questions since the first day of activity.
 

Why choose our accountants in Malta?


Companies can have their own accounting firms in Malta or can choose our firm to handle all the financial matters of the business without having to worry about missing filing deadlines, buying specialized software for invoicing activities and payroll which usually incur additional costs.

We have a specialized team in every field of accounting, which is why you can resort to our accountants in Malta no matter the service you need. You can choose for one or more accounting services, as it suits your needs at a moment.

Also, if you want to know why you should start a business in Malta, you should know that:
 
  • Malta scored 68.6 points in terms of economic freedom, becoming the 41st freest economy in the 2019 Index;
  • in terms of fiscal health in 2019, Malta ranks 20th among all 44 European countries which is above the world average;
  • on an average, in the last 3 years, Malta’s budget registered a 0.6% surplus from its Gross Domestic Product (GDP);
  • the value of Maltese imports and exports combined represent 261.5% of its GDP in 2019.

Please contact us for more detailed information and a personalized offer if you are interested in accounting services in Malta.