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Malta’s EU presidency’s priorities in financial services and taxation

Malta has set a list of priorities for its presidency of the EU Council running from 1 January to June 2017. This includes a significant list of projects related to financial services and taxation.

Financial services represent nearly a quarter of Malta’s economy and as such it is a key sector for the Mediterranean island. In a memo compiled by Weber Shandwick, Malta set itself a list of priorities in that particular sector, including moving forward with measures included in the Capital Markets Union (CMU). CMY is a plan of the European Commission to mobilise capital in Europe.

On the project of the Common Consolidated Coporate Tax Base (CCCTB) which was relaunched by the EU Commission in the fall of 2015 and was given priority for 2017, the memo read that is won’t be an easy task due to the reservations of some member states.

“The Maltese have also confirmed their intention to have Economy and Finance Ministers focus on actions to combat terrorism financing, by prioritising proposed amendments to the fourth AntiMoney Laundering Directive (AMLD),” the memo also read.

Malta expects a few projects to be launched by the EU Commission in the first half of 2017 which will need tackling, notably a White Paper on the future of the European Monetary Union and the mid-term review of the Capital Markets Union.

The full memo and list of priorities of the Maltese presidency can be found here

 

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