Assurance and Accounting

Companies registered in Malta are obliged to comply with the local Companies Act, 1995. This legislation imposes the basic obligation of preparing and maintaining proper books of account disclosing the company's financial position at all times. The accounts at each financial year-end are verified by an independent auditor to ensure that they disclose an accurate financial position of the company as well as ensuring compliance with the Companies Act and International Financial Reporting Standards. The annual audited accounts (normally an abridged set of accounts) are filed with the Malta Financial Services Authority being the local regulator for public and private companies.

Companies that trade both in Malta and on an international scale are obliged to register for Value Added Tax (VAT) which will then allow them to trade freely with both EU and non-EU member states since Malta is a member of the European Union. Local as well as intra-community VAT reporting takes place on a quarterly basis. It is worthy to mention that registered companies will be entitled to claim all VAT incurred on local allowable expenditure.

Summa Fiduciary Services Ltd by means of its associated company Comprehensive Management Services Ltd is able to provide complete accounting services guaranteeing to the client the necessary peace of mind in ensuring that all corporate obligations with the various authorities are being met in a timely manner.