Press Review: Tax Haven Malta
Fabio De Masi about the tax haven Malta
13. September 2016
"[...] The vice-chair of the European Parliament's Panama Papers committee, Fabio de Masi, was categorical in his description of Malta as a tax haven.
I do think that Malta plays a significant role in aggressive tax planning as Malta's imputation tax fits nicely' with artificial interest or royalty payments. While Malta is undoubtedly a beautiful spot under the sun, the sheer amount of financial flows passing through Malta does not correspond to its genuine economic substance, De Masi, a German MEP for the Left Party, said Eurodad - the European Network on Debt and Development - was also critical of Malta's tax system. [....]
Malta is not only a tax haven, German MEP Fabio de Masi says. But experience tells us that the imputation scheme with a generous tax refund is the perfect tool to also launder criminal money. [...]"
The article was published in Malta Today on 13.09.2016, page 4