“Local and international regulatory, tax and economic developments continued to play a significant role during the year under review. We have continued to empower our team to combine their skills with technology to better serve our clients’ needs, realities and transactions and to deliver sustained outcomes and build trust.“
Highlights of the year
Our tax practice continues to strengthen and develop to better face the new challenges brought about by economic, fiscal and regulatory developments which impact both our services and our clients’ needs.
On a local and international fiscal level, we continue following developments, particularly the initiative on the global minimum effective corporate taxation, in the midst of financial and non-financial crises due to major geopolitical conflict, to be able to support our clients adequately. At the same time, we have continued investing in our Transfer Pricing team particularly in anticipation of Transfer Pricing Guidelines to be published in a few months.
The regulatory landscape continues to develop, particularly in the financial services sector. Our regulatory team has been enhanced to better support our clients’ needs, particularly in the field of anti-money laundering and the prevention of financial crime.
Also on the regulatory front, we have transformed our corporate services to provide Finance and Corporate Managed Services under the Corporate Services Providers Act. We have further enhanced the management team supporting these services with the promotion of three additional senior managers.
From a clients’ events perspective, the highlight of the year was a very successful “Operating in Malta in today's reality'” conference where experts from the PwC network joined our team to guide delegates through recent tax-related developments and the challenges expected in the coming months and years.
Spotlight on our people
Our Tax practice brings together over 191 experts and support staff in tax, legal, regulatory, compliance and company administration services to serve our diverse range of local and international clients. We acknowledge that today our clients’ challenges are complex and require something more than they expected. By bringing together a mix of skills, experience and technology, we seek to provide them with sustained solutions.
Technology and innovation remain critical, and we have continued to invest heavily in automating our processes to allow our people to focus more on delivering a high-quality service and less on mundane time-consuming tasks.
At the same time, continued fiscal and regulatory developments have increased the need to continue investing and enhancing the skills of our main asset - our people. We have, therefore, continued to invest heavily in technical training to help our people to keep abreast of the numerous developments and to enhance their respective specialisations.
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