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COVID-related measures hinted by Government

COVID-related measures hinted by Government

An indication of some COVID-related measures for the coming months has been given in a press release by the Ministry for Finance.

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In a press release issued by the Ministry for Finance and Financial Services on 29th April 2020, the following points are reported as having been announced by the Minister, amongst others:

  • The tax deferral scheme will be extended by a few months and Government will act depending on the forthcoming circumstances. No further details were provided;
  • The Cabinet has taken a decision to change the insolvency laws to safeguard companies on the brink of bankruptcy;
  • Discussions are underway regarding the difficulties that may be faced by companies offering bonds and shares to small investors on the Malta Stock Exchange.

Should you have any queries or wish to discuss further, please send an email to covid@kpmg.com.mt.

COVID-related measures hinted by Government

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

© 2020 KPMG, a Malta civil partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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