The FIAU’s Implementing Procedures are issued by the Financial Intelligence Analysis Unit (FIAU) to implement the PMLFTR (Prevention of Money Laundering and Funding of Terrorism Regulations) (in terms of reg. 17) and are binding on ALL ‘subject persons’, both natural & legal, from the date they are issued.
Clients of Dr. Werner & Partner can make use of our bookkeeping services. Our own team of financial advisors, accountants and bookkeepers can take care of all of your bookkeeping and accounting services on a monthly or quarterly basis including financial accounting such as preparing VAT returns, quarterlies, VIES declarations, MOSS returns and business analysis.
At the end of the year, we will hand over the accounting to an auditor, who will then calculate and submit the annual balance.
Additionally, Dr. Werner & Partner offer our own internal employee wage accounting services:
- Preparation of monthly salary accounting including pay slips;
- Calculation of wage costs according to the Maltese withholding system (FSS);
- Submission of payroll tax and social security contributions to the Inland Revenue Department; and
- Annual income tax adjustment and issuance of income tax card.
WILL DR. WERNER & PARTNER ALSO TAKE CARE OF MY PERSONAL TAX RETURNS IN MALTA?
I SELL ELECTRONIC SERVICES ONLINE TO MY FINAL CLIENTS.…
Then you will probably need to register for MOSS and submit MOSS returns together with your quarterly VAT returns.
ARE THERE PENALTIES FOR LATE SUBMISSIONS?
Yes, there are penalties on both late submissions as well as penalty interest amounts on unpaid taxes.
IS IT EASIER TO GET A WORK PERMIT IF I FORM A COMPANY?
HOW OFTEN ARE TAXES DUE?
As a general rule, a holding company must submit its bookkeeping annually whereas an operative company is usually registered for VAT (value-added tax) and therefore submits tax declarations on its returns on a quarterly basis. Our normal bookkeeping services include the current financial accounting, the quarterly VAT-declarations, the VIES Reports (Recap Statements) and an evaluation of the prior Quarter.