NEWS | Wednesday, 29 August 2007

Special registration scheme ends on 31 August 2007

The Central Bank of Malta said that it would like the general public to note that the Special Registration Scheme will end on 31 August 2007. The Scheme was launched by the Ministry of Finance in April in preparation for the adoption of the euro as Malta’s national currency. Its purpose is to provide individuals residing in Malta with a one-time opportunity to regularise their position in respect of their holdings of eligible assets in those cases where the associated income has not been declared for the purposes of the Income Tax Act.
Eligible assets may be registered under the Scheme through the Central Bank of Malta and the Appointed Registration Agents. These include banks, stockbrokers and investment services licence holders, as well as foreign exchange bureaux and other licensed financial institutions.
Full confidentiality is guaranteed as Registration Agents, as well as the Central Bank of Malta, are strictly prohibited by law from disclosing any information which is provided to them under the Scheme.
Holdings of eligible assets representing income that was duly declared for the purposes of the Income Tax Act should not be registered under the Scheme.
Further details on the Scheme are available from the Central Bank of Malta website www.centralbankmalta.com