Accounting and financial reporting
 

The backbone of any business is undoubtedly a solid and transparent accounting function. This is why we believe that management decisions can truly be based on figures only when such are tailored to the business’ needs, are accurately prepared and timely delivered. Our dedicated team of professionals, our extensive knowledge of developed and emerging industries, and our dedication in delivering solutions by working closely with our customers, is what makes us so strong in this service sector.

Depending on the needs of your business, we will guide you in developing or improving your accounting function, ranging from bookkeeping and historical reporting to financial controller services and forecast reporting.

Payroll and HR

Payroll Management
 

Payroll and Human Resources may well be considered the most delicate functions of a business. This is why we believe that they are duties which should be handled with extra care, and are many times underestimated as administrative tasks. At Radix Malta, while we safeguard the interests of a business’ most valuable assets – its employees – we also ensure to avoid headaches when it comes to the increasingly demanding legislation, statutory requirements and employment licences. Our dedicated team of meticulous but practical professionals will seek to provide you with the best solutions to your requirements, as well as with timely delivery of any duties.

Work Permits
 

Foreign workers intending to work and reside in Malta are required to have the proper visas and work permits.

 

Any third country national (Non-EU Citizen) must be in possession of an employment licence (Work Permit) before being able to work in Malta. It is to be remarked that in 2014, as a result of the publication of Legal Notice 160 of 2014, the authorisation for Third Country Nationals to work in Malta is now conducted by means of a Single Permit Application. This application is aimed at third country nationals who wish to both reside and work in Malta. As a result, the relevant authorities produce a single document which is commonly referred to as the e-Residence card.

Any EU/EEA/Swiss citizen has the right to enter, remain and reside in Malta. When an individual intends to reside in Malta for a period longer than three (3) months, he is obliged to apply for an e-Residence card.

Radix Malta provides assistance to both individuals seeking to obtain a single permit and companies which decide to relocate to Malta. Throughout the years, we have assisted various clients ranging from private clients, families, and corporations with their relocation transition.

VAT Compliance
 

Value Added Tax is perhaps the most complex of indirect taxes, and with the ever-increasing legislative and technical burdens, it is becoming increasingly difficult for non-specialists to keep up with the requirements. This often ends up in the submission of partially incorrect returns and declarations, where businesses may end up facing hefty fines and unforeseen liabilities. At Radix Malta, we make sure that you can put your mind at rest with any necessary VAT compliance your business may require, diligently carried out by our team of VAT specialists.

 

VAT Returns
 

Persons carrying out an economic activity* are considered as taxable persons, and are required to register for VAT purposes under Article 10. In cases where the turnover will not exceed set thresholds, such taxable person may opt to register as a small undertaking under Article 11, where one is exempted from charging VAT on sales and is not able to recover input VAT.

 

* An economic activity means an activity carried on by a person, who is not an employee and consisting of any one or more of the following:

• any trade, business, profession or vocation and the provision of any personal services;

• the exploitation of tangible or intangible property for the purpose of obtaining income there from on a continuing basis;

• the provision by a club, association or organisation of the facilities or advantages available to its members for a subscription or other consideration;

• the admission of persons to any premises for a consideration.
   

The activities of a public authority assuming functions assigned to it by law shall not be deemed to be an economic activity except as and to the extent provided in the First Schedule of the VAT Act and except where such treatment as non-taxable persons would lead to significant distortions in competition.

 

Periodical VAT returns, normally every quarter, are submitted to the authorities to report any activity within the scope of VAT. Our team of professionals is trained to ensure that compliance reporting is accurate and complete.

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Recapitulative Declarations
 

Recapitulative declarations are periodical statements which a taxable person in Malta is required to submit where intra-Community supplies of goods are made to customers identified with a valid VAT Registration number in another Member State, where the customer is liable to pay the VAT on that good or service in the Member State of establishment.

The frequency of reporting, being either monthly or quarterly, will depend on the volume of type of trade.

 

Mini One Stop Shop (MOSS) Returns
 

Aimed at taxable persons supplying telecommunication services, television and radio broadcasting services and electronically supplied services, the Mini One Stop Shop became effective on 1 January 2015. In cases where such services are provided are to non-taxable persons in Member States in which the supplier does not have an establishment, this scheme enables them to account for the VAT due on those supplies via a web-portal in the Member State in which they are identified. These MOSS returns are to be submitted on a quarterly basis, within twenty days from the end of each quarter.
 

This optional scheme is a simplification measure following the change to the VAT place of supply rules, in that the supply takes place in the Member State of the customer, and not the Member State of the supplier. It avoids taxable persons having to register in each Member State of consumption. The Mini One Stop Shop mirrors the scheme in place until 2015 for supplies of electronically supplied services to non-taxable persons by suppliers not established in the European Union.
 

The Mini One Stop Shop is divided into two sections, one for suppliers who are established in the EU and another for those who are only established outside of the EU.
 

Our team of trained professionals ensures that your business is provided with the insight and guidance necessary to make the correct assessment to avoid unforeseen VAT liabilities.

 

EU VAT Refund Claims
 

Taxable persons who incur VAT in connection with their activities in an EU country where they do not habitually supply goods or services, and are hence not required to register for VAT, are still entitled to recover such VAT, subject to the expenditure being eligible, by means of a refund from the EU country where they paid the VAT.

This EU VAT refund is administered electronically through the national VAT authority in which the taxable person is established. Although procedures are overall quite harmonised between the Member States, specific ineligibilities and conditions do exist. Our team of professionals is able to provide the necessary insight and guidance required to make sure that inaccurate or incomplete refunds claims are avoided.

Refund claims may be submitted once a year, within nine months from the end of a calendar year, or periodically if required.