The End of the VAT exemption for goods up to €22 – No Transitional Period
22 June 2021
As from 1st July 2021, the European Union will introduce new VAT e-commerce rules to...
The Malta Financial Services Authority have recently published a consultation document on the Updated CSP rules and rulebook. Tha SME Chamber has once again kickstarted a consultation process amongst CSP operators and sole pretensioners who offer the service of a CSP. The CSP committee has also met on this topic in order to discuss into more details the provisions and changes proposed.
The SME Chamber positively notes that the rulebook published addresses a number of concerns raised in earlier feedback by the SME Chamber. Moreover, a number of recommendations put forward by Malta Chamber of SMEs have been upheld and taken on-board.
Of the main changes it is important to note;
The SME Chamber proposed the below in order to ensure the smooth transition and also ensure that the principle of proportionality is being taken into consideration;
The position paper submitted to MFSA can be viewed here. The SME Chamber, together with the CSP committee will also be holding a meeting with MFSA to explain the main concerns.
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The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).