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    ECB assumes responsibility for euro area banking supervision

    The European Central Bank (ECB) assumed responsibility for the supervision of euro area banks, following a year-long preparatory phase which included an in-depth examination of the resilience and balance sheets of the biggest banks in the euro area.


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      EIOPA consults on the Calculation Process for the Solvency II relevant Risk Free Interest Rate

      To fulfil its commitment to openness and transparency as stated in its founding texts EIOPA organises as early as possible, written consultations, in order to receive comments from all interested parties, including market participants, consumers and other end-users.

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        EU Supervisory Authorities update on risks in EU financial system

        The Joint Committee of the European Supervisory Authorities (ESAs) published today its bi-annual report on risks and vulnerabilities in the European Union’s (EU) financial system.



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          ESMA has launched 6 new consultations

          1.      Consultation on delegated acts required by the UCITS V Directive (http://www.esma.europa.eu/consultation/Consultation-delegated-acts-required-UCITS-V-Directive)
          Deadline for comments 24/10/2014


          2.      Consultation on draft Implementing Technical Standards on main indices and recognised exchanges under the Capital Requirements Regulation(http://www.esma.europa.eu/consultation/Consultation-draft-Implementing-Technical-Standards-main-indices-and-recognised-exchang)
          Deadline for comments 01/11/2014


          3.      Consultation on clearing obligation under EMIR – no3 (http://www.esma.europa.eu/consultation/Consulation-clearing-obligation-under-EMIR-no3)
          Deadline for comments 06/11/2014


          4.      Consultation on the implementing measures of the Regulations on EuSEF and EuVECA (http://www.esma.europa.eu/consultation/Consultation-implementing-measures-Regulations-EuSEF-and-EuVECA)
          Deadline for comments 10/12/2014

          5.      Consultation on draft RTS on prospectus related issues under the Omnibus II Directive (http://www.esma.europa.eu/consultation/Consultation-draft-RTS-prospectus-related-issues-under-Omnibus-II-Directive)
          Deadline for comments 19/12/2014

          6.      Consultation on draft guidelines on the application of C6 and C7 of Annex I of MiFID (http://www.esma.europa.eu/consultation/Consultation-draft-guidelines-application-C6-and-C7-Annex-I-MiFID)
          Deadline for comments 05/01/2015

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            Part-Time Self-Employed Tax Submission

            The form for the submission for tax purposes of part-time, self-employed individuals has been amended by virtue of Legal Notice 186 of 2014 [Part-Time (Forms of Self-Employed) (Amendment) Rules, 2014], therefore replacing the previous form in toto.

            In addition to the new form, the Legal Notice also caters for the deadline of the form submission to be not later than the 30th of June of the year following the year of assessment (January to December), therefore for the current year, the deadline is 30th June 2014 for the period January to December 2013.

            It is important to note that the ceiling for part-time self-employed income to be taxed at the part time rate of 15% has been increased to €12,000 from €10,000.

            For further information on taxation in Malta contact us by email at tax@csb-advocates.com