Malta took a vital decision and regulated its medical cannabis laws. In March 2018, it legalised the usage and possession of medical cannabis with a prescription. Whilst cannabis for recreational use remains an arrestable offence in Malta.
The 2015 Drug Dependence Act laid out the guidelines for patients to obtain cannabis-based medication prescriptions from government-approved physicians.
As per the new Malta Cannabis laws, the Production of Cannabis for Medicinal and Research Purposes Act allowed entities to cultivate, import, process and produce cannabis intended for medical and research purposes under a controlled and supervised environment – provided all necessary regulations were complied with.
Additionally, Malta’s commercial features like a stable economic environment, a well-educated workforce, a competitive fiscal regime and an attractive business environment remain impressive, attracting investors from all over the globe.
Huge investment has turned Malta into a major logistics hub, offering sea and air logistics solutions with a flourishing freeport and excellent air-cargo facilities.
Malta also boasts extensive passenger air links offering non-stop flights to some 70 cities with almost 1000 international flights per week.
According to the laws, any registered practitioner in Malta will be able to prescribe cannabis legally as long as they abide by the norms set by Malta’s Superintendent of Public Health.
All the patients with debilitating conditions and a valid prescription from a doctor registered with Malta’s Medical Council can legally and safely obtain government-sanctioned cannabis medications.
Malta has a highly efficient tax regime. Companies incorporated in Malta are subject to tax at the rate of 35% on their worldwide income and capital gains however with the system of tax refunds which Malta adopts, upon the distribution of profits as dividends, shareholders can claim a tax refund, reducing the overall effective tax rate to 5%.
Malta operates the full imputation system whereby the tax paid by the company is imputed towards the shareholders’ tax liability upon receipt of a dividend, meaning that no further tax is due by the shareholder upon receipt of a dividend.
Taxation of companies is also underpinned to the double tax relief. To date, Malta has concluded more than 72 double taxation agreements for the avoidance of double taxation and by virtue of domestic legislation, Malta does not impose withholding taxes.
“Accuracy, punctuality and work delivered to highest standards. As simple as that.”
“The perfect balance of dealing with a local firm who understands the culture and requirements of both the local and international markets in which we operate.”
“Our relationship with Nexia BT goes back 25 years since the Firm’s inception. Throughout these years, they have always delivered outstanding technical expertise. These factors, in addition to their business acumen and attention to detail, are some of the factors that make Nexia BT’s team stand out from the rest.”
“Since we started our professional relationship they have been pivotal in making a positive difference in the way we manage our affairs. Integrity, honestly, promptness, adaptability and technical excellence are key characteristics that make Nexia BT a trusted business partner.”
“The most impressive characteristic of the Nexia BT team is their team spirit and willingness to work together towards achieving the best results.”
“It is all about earning trust and respect – two words that have been present throughout our long history with Nexia BT.”
“Nexia BT is a business partner that brings to the table a combination of the right skill sets/capabilities and commercial empathy. In my experience, these are fundamental qualities that can make or break business operations more so when the trading environment is challenging.”
Our success here at Nexia BT is built on a strong foundation, which we credit to our team of experts. Throughout the years we have learnt that the best business relationships are those which are nurtured by our industry professionals together with the client. Explore our departments at Nexia BT here.More about our team