Signing of the Amendment to double taxation avoidance agreement with Malta

Unterzeichnung des Protokolls zum Doppelbesteuerungsabkommen zwischen Malta und Deutschland Enlarge image (© Department of Information Malta, Saviour Cassar)

On June 17th 2010 the Maltese Minister of Finance, the Economy and Investment Mr. Tonio Fenech and the German Ambassador to Malta, Mr. Bernd Braun, have signed a protocol amending the agreement on the avoidance of double taxation from March 2001. The adjustments are intended to bring the existing agreement in line with current international standards of the Organisation for Economic Co-operation and Development (OECD), thus increasing exchange of information and transparency for financial authorities.

The Maltese Minister of Finance, the Economy and Investment, Mr. Tonio Fenech, stated to the press, that this protocol would further enhance the already good bilateral relations and especially the cooperation of the Maltese and German financial authorities in their engagement against fiscal evasion.

Ambassador Braun emphasised the deep economic relations of the two states and expressed the wish, that Maltese Companies shall discover the German market, but also realise the high potential for investments in Germany and therefore strenghten trade and investments between the two nations.