Accounting Services in Malta

Updated on Monday 11th May 2020

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Starting a business in Malta does not imply only the day-to-day management of the company, as an important part of doing business is related to accounting. As a matter of fact, accounting is what keeps a Maltese company functioning properly.

This is why we come to the support of small, medium, and large-sized companies with tailored accounting services in Malta. From basic day-to-day accounting to the most complex audit services, our accounting firm in Malta can help both local and foreign entrepreneurs doing business in this country.

We invite you to read below on the main accounting services we can provide for your company in Malta. Should you need any specific service, our accountants in Malta will gladly help you.
 

Our main accounting services in Malta


If you decide to open a company or already have a business in Malta and decided to outsource the accounting to CPA Malta accountants, here is what we can support you with:
 
  1. tax accounting services which can be suited to all types and sizes of Maltese companies;
  2. preparation of financial statements, accounts and other documents you need for your company;
  3. VAT and tax compliance in accordance with the regulations imposed by the Maltese authorities;
  4. bookkeeping services – you will need not worry about the daily registration of accounting documents;
  5. payroll and HR services – these aspects of your business can be handled by our accountants in Malta;
  6. audit services completed in accordance with the local and international accounting standards;
  7. accounts payable and receivable services – we can also help you in these matters of your business;
  8. forensic accounting services – we can also help in such matters, should your company need them;
  9. tax advice and planning are also part of the services offered by our accountants in Malta.

If we have failed to mention any of our accounting services you consider you might need in Malta, feel free to ask our specialists about them.

Our accounting services in Malta are presented in the infographic below:
 
Accounting services Malta

Tax and VAT registration services in Malta


Tax registration is part of the business incorporation procedure in Malta and it can be completed by the owner or by specialists in the accounting field. In most cases, foreign business owners prefer to let an accountant handle the tax registration procedure in Malta. Alongside the process of obtaining the tax identification number, our accounting firm in Malta can also take care of the VAT registration procedure.

VAT registration in Malta is not a mandatory requirement from the first day of activity in a company, however, those who want to avoid ulterior administrative complications can choose that option.
VAT registration becomes mandatory once a company exceeds a turnover of 10,000 euros. The same applies to individuals who carry out an activity which is subject to the VAT laws of this country.

It is important to note that Malta has adhered to the new EU regulations which provide for VAT registration for electronic services suppliers. Under these new rules, companies in the EU selling goods and services via the Internet to clients in Malta must register for VAT in this country. The registration threshold in their case is 35,000 euros per year.

Both tax and VAT registration imply the submission of various documents with the local tax office in the city the business operates and for this purpose, our accounting firm in Malta is present in several cities in the country. We also offer audit services in Malta.

If you decide to work with our accounting firm in Malta, you will benefit from swift tax and VAT registration services in cities like Valetta and Birkirkara.
 

Assistance in corporate taxation in Malta


Running a business in Malta implies the payment of the corporate tax, however, it is not limited to this, as other levies must be considered. From taxation of companies’ point of view, Malta is rather interesting because the standard corporate tax rate is 35%, however, it can be offset against the various tax incentives and reductions offered by the government. In order to benefit from this reduction which can lead to an effective payment of the tax at a rate of only 5%, the help of experienced tax advisors in Malta is required. This is why our accounting services for companies in Malta are among the most appreciated.

We can help you meet the requirements for being eligible for the reduced tax rates applied to companies in Malta. It is good to note that these rates are available for foreign shareholders who must prove their participation in the Maltese companies in order to obtain the reduction. Our accountants in Malta can help you prepare the documents that attest to your foreign ownership in a local company and file them with the authorities.

Another accounting service available for Maltese companies is related to group and holding company taxation. As most businesspersons know, the EU Parent-Subsidiary Directive offers important tax deductions to holding companies with direct ownership in their subsidiaries in Malta. Our accountants can help you prepare the necessary documentation to help you benefit from the provisions of this Directive.
 

Bookkeeping services in Malta


Bookkeeping is perhaps one of the most important aspects of running a business in Malta. We come to your support with tailored bookkeeping services, among which the recording of daily accounting paperwork related to the expenses, the financial documents entering and exiting the company, and the maintenance of all accounting files up to date. Our Malta tax advisors only use specialized software in order to help you run your business in a modern way.
 

Preparation of financial documents in Malta


The accounting of business in Malta implies the preparation of various financial documents. Among our accounting services in Malta, you can also count on specialized assistance in drafting and submitting such documents with the tax authorities.

Among the documents a company is required to file periodically and annually, we mention the following:
 
  • the accounting records which must be kept in the same currency as the share capital of the business;
  • the annual accounts of the company which must be prepared and filed with the tax authorities, but also with the Trade Register in Malta;
  • the auditor’s report which must be presented during the Annual General Meeting of the shareholders;
  • the director’s report which must be drafted in accordance with the provision of the Companies Act;
  • the company’s balance sheet and profit and loss accounts which must reflect the company’s financial standing;
  • the annual return and the tax return which must comprise detailed information on the company’s assets and liabilities.

Our accounting services in Malta target both locally registered companies and foreign companies with branches and subsidiaries here.
 

Payroll services in Malta


Employment is another important aspect for a company starting its activity in Malta. The laws of this country are quite clear when it comes to the protection of both employers and employees, therefore registration with the relevant authorities for hiring employees is the first step in setting up the payroll of a Maltese company.

With the help of our tax advisors in Malta, payroll setup becomes quite easy as we can help with:
 
  • obtaining the employer number with the Employment Licenses Unit of Jobsplus in Malta;
  • creating the payment records of all employees;
  • processing the documents of employees (labor contracts, paychecks, annual leave forms, etc.);
  • filing all the documents related to the payment of salaries with the authorities;
  • paying social contributions on behalf of employers and employees.

Payroll is one of the most dynamic aspects in the accounting of a company because of the numerous changes that occur in terms of legislation and activities in the company which is why our CPA Malta accredited accountants are a good choice if you decide to use outsourced payroll services.

With the help of our accounting services in Malta, you will be updated with all the information you request or need to be informed about in a timely manner.
 

Audit services in Malta


Our firm also works with accredited auditors in Malta who can provide tailored audit services. We can support you with the following types of audits in Malta:
 
  • internal audits which are tailored to the specific needs of your business;
  • external audits for companies that need a second opinion or another point of view on their activities;
  • statutory audits which are a mandatory requirement for several types of legal entities;
  • financial and compliance audits which ensure a company respects the local laws and regulations;
  • forensic audits, if a company needs to have an expert conducting various investigations.

Since we have mentioned our forensic audit services, we want to let you know that you can also rely on us for forensic accounting services in Malta.

Our accounting firm is made of a team gathering specialists from all fields of accounting in order to support you and your company in Malta through anything related to the financial aspects.
 

Forensic accounting services in Malta



One of the specialized fields of accounting in Malta is associated with the forensic services specialists can offer. Forensic accounting implies having knowledge of how to combine the legal and accounting legislation in order to determine the legitimacy of accounting methods used by companies.

Forensic accounting is usually employed in Maltese courts of law, however, it can also be used by companies seeking to make various investigations. Our accountants in Malta can offer various services, among which also accounting investigations.

There are several types of forensic accounting services that can be provided in Malta and among these the most common are related to the contract breaches. This type of investigation will imply a through verification of an agreement and the calculation of the damages resulted from breaching it either by one side or both parties in the contract.

Financial disputes are also usually resolved with the help of forensic accountants. It is useful to know that certain cases can be resolved through arbitration, case in which the arbitration court can dispose of the forensic investigation of the dispute, and based on the findings, the specialists can come to a conclusion.

Other matters that can be handled by our forensic accountants in Malta are related to the usual insolvency, reorganization, and bankruptcy of a company. This service is required in all matters where a court hearing cannot be avoided. Creditors filing for the dissolution of a company can request a judge to dispose of a forensic investigation on a company in order to determine the true value of its assets.

Other types of forensic accounting services that can be offered by our accounting firm are related to tax fraud, money laundering, and tax evasion. When conducting verifications on a company, it is good to work with external accounting firms in Malta in order to have accurate results based on impartiality.

Our CPA accredited Malta accountants can offer tailored forensic accounting services in order for you to benefit from realistic results after an investigation.

 

Tax advisors in Malta


Apart from the legal aspects a company needs to comply with in Malta, our accounting services also imply offering support in areas related to improving your business’ financial results. Among these, we mention that our tax advisors can help you create long-term strategies that will help you have an accurate picture of what works and what can be improved in your company’s activities and departments. We can also create tax minimization strategies, but we can also offer support in applying for the many tax incentives and grants offers by the Maltese government.

All our accounting services in Malta are personalized based on the profile and size of a company so that you can rest assured you will benefit from the same services offered by an in-house accounting department.
 

Accounting services in several Maltese cities


Because we do not want you to lose your precious time by traveling from one city to another, we provide accounting services in the capital of Valetta, but also other large cities such as Birkirkara. You can rely on our accountants and auditors in Malta in order to benefit from complete services at the tip of your finger.

You should also know that the same services are available no matter the city you live in or the location of your business.

Our accounting services focus on the needs of persons and companies in Malta and are provided in a personalized manner. This means we will take into account the size of the business, the field it operates in, and specific particularities that help it maximize its profits. For this purpose, we can help with tax minimization solutions in agreement with the current legislation.

If you have any questions about our accounting services in Malta, we are at your disposition with detailed information and quick answers.
 

Why choose our accounting services in Malta?


With years of experience behind, we have formed a team of accountants specialized in various areas of this field. As mentioned above, we use modern software in order to keep your accounts neat and updated at all times.

Our accountants in Malta will dedicate all their resources to your company’s wellbeing so that you don’t need to worry about any accounting aspect of your business.

If you haven’t decided on starting a business in Malta yet, here is some information to help you decide:
 
  • in 2017, foreign direct investments in Malta amounted to €169.8 billion;
  • this amount represented an increase of 8,3 billion euros compared to the previous year;
  • the industry accounting for most of the FDI stock registered in Malta in 2017 was the financial sector with 98% of the total FDI;
  • Maltese companies also fared well as at the end of 2017, they invested 61.7 billion euros abroad.

For complete information about our accounting services in Malta, please contact us at any time.