15 July 2024Nouv
12 months ago

Family businesses are historically one of the main pillars supporting the Country’s economy. These businesses are undergoing a period of heavy turmoil in view of challenges relative to succession planning, challenges relative to technological shifts inducing shifts in customer spending patterns, and the cultural shift the Country is facing relative to increased Tax Compliance requirements.

Malta has been undergoing a period of heavy investment in the upgrading and the strengthening of the legal framework, and of Governmental agencies and structures, aimed at matching the standards of performance and compliance practiced by the sister member states of the European Union. A simple statistic to highlight the magnitude of investment is in the increase in workforce in the FIAU. This unit went from a force of 20 elements in 2015 to a complement of 98 in 2020, and an overall target of 157 team members.

But are family businesses aware of the repercussions of such investment? Are Maltese businesses onboard to ride on this cultural shift the Country needs to experience in such a short period of time?

Non-compliance with fiscal legislation is no longer an option. People need not only decide to do business in a better way, but more importantly everyone needs to step up the game in terms of organisation.

The Financial Management Team at NOUV is fully focused at enabling local entrepreneurs tune their daily doings towards achieving full compliance and consequently reduce the risks, disruption and costs incurred due to non-compliance issues.

SIMILAR POSTS

Five Government Agencies Attend Getgovernanz’s First Due Diligence Course

“The fact that this first course was delivered to a number of government agencies sends a very positive message to……

15 July 2024 • 12 months ago

How to Become a Certified Energy Auditor in Malta (REWS Approved) 

As Malta pushes forward with its energy efficiency and carbon reduction goals, demand is growing for qualified professionals who can……

9 June 2025 • 2 weeks ago

Lessons from Covid-19 so far

If the current COVID-19 crisis has taught us anything, it is that when companies come together around a common purpose, goals that may have……

15 July 2024 • 12 months ago

Types of Phishing Websites to watch out for

Phishing attempts remain at a constant increase year after year.   According to Verizon’s 2020 Data Breach Investigations Report (DBIR), 22% of breaches……

15 July 2024 • 12 months ago

Let's discuss

We work with ambitious leaders who want to define the future, not hide from it. Together, we achieve extraordinary outcomes.

0
    0
    CART
    Your cart is emptyReturn to Course