Solutions for every business need.
Bookkeeping
Companies incorporated in Malta are required by the Maltese Companies Act, 1995 to keep proper accounting records, which should reflect the true and fair position of the companies’ affairs, its financial performance and cash flows. These accounts should give sufficient and reliable clarification of the company’s activities. The accounting procedures should at least be carried out on an annual basis, whilst the first set of accounts may cover a period of not less than 6 months and not more than 18 months from the incorporation date of the company. The accounts submission deadline must be honoured in order to comply with local statutory requirements.
The accounting records are to be kept at the registered office or any other office as decided by the directors of the company. If the accounting records are kept outside of Malta then financial statements and returns must be maintained at the established Malta office, as these might be required in an inspection by the authorities including the VAT Department or Tax Department.
Consolidations
Groups of companies with a Maltese parent company might be required to prepare consolidated financial statements if certain thresholds set by the Maltese Companies Act are exceeded. Consolidation might also sometimes be required for group purposes. Either way, our team of experienced accountants in Malta are able to guide you on the consolidation requirements and workings to ensure this is done in accordance with the relevant accounting standards & all disclosures are included in the audited financial statements.
Group Reporting
Maltese subsidiaries belonging to a large group are at times required to also prepare & complete group reporting packages and send them to the head office (HO) for the HO’s review and hence, inclusion in the group consolidation. Our accountants are highly familiar with the group reporting templates and deadlines and are capable of assisting you in the completion and submission of these reports.
VAT Reporting & Advisory
Our team of experts can assist you through the VAT registration process, guiding you through the different types of VAT registrations possible, and ensuring the VAT number is obtained within the shortest possible timeframe.
We can also assist you with the compilation and submission of the necessary VAT-related documents, ensuring that periodic VAT returns and other required submissions are duly completed and filed appropriately with the relevant authorities in a timely manner.
Our office can also represent the company with the VAT authorities in the case of a VAT inspection, whereby we can assist our clients by liaising with the VAT authorities and providing the appropriate records as necessary.
Employment Contracts
Our team of experts can assist in the drafting and preparation of the respective employment agreements/contracts (be they definite or indefinite). Working together, Payroll and Legal can assist clients in terms of specific employment regulations relating to probation, notice periods, leave entitlements (including wage regulation orders) (for all types of leave including vacation leave, sick leave, maternity leave, etc), among other advice.
Payroll Solutions
Companies that are engaged in employment activities in Malta are required to keep full records for each employee, to include amounts paid as salaries, bonuses, allowances, any other additions, together with any deductions required by law relating to income tax and social security contributions (NI) from the date of engagement to the date of termination of employment. It is very important that statutory requirements are strictly adhered to.
Our team of dedicated payroll advisors assists clients with their payroll requirements where the outsourcing of payroll is required.
Payroll Services are further complemented by Tax, Employment Law and HR Consultancy.
