Issue link: https://maltatoday.uberflip.com/i/1498223
TRUTH IS OF NO COLOUR WWW.MALTATODAY.COM.MT SUNDAY • 30 APRIL 2023 • ISSUE 1226 • PUBLISHED EVERY WEDNESDAY AND SUNDAY PAGE 2 PAGE 4 Understanding the nation-wide push to let wild- flowers be PAGE 6 A close look at the asset declarations filed by ministers in parliament PAGE 12 Cash and debt Pollinators Victorious KURT SANSONE LACK of clarity on EU-man- dated changes to Malta's com- pany tax regime is causing un- ease with some of the largest employers bracing themselves for the hardest hit. Industry sources who spoke to MaltaToday said the lack of information on how the new tax regime will be structured is contributing to the uncertainty. Malta will have to overhaul its company tax system in the next two years to introduce a minimum effective tax rate of 15%, effectively losing its low- tax jurisdiction status. The new global rules set by the OECD, an international organisation, will be adopted EU-wide by 2025 and will ap- ply to companies with an an- nual group turnover of €750 million. The high turnover threshold means that several companies employing hundreds in man- ufacturing and gaming will be impacted, according to a sen- ior practitioner with one of the big four financial services firms. The senior practitioner, who chose to remain anonymous because of involvement in on- going talks, said the companies are among the largest in Malta and are crucial for the export economy. MATTHEW VELLA MALTA'S medicinal authorities have told pharmacists not to dis- pense a weight-loss wonder drug to customers other than type-2 diabetes sufferers, due to a world- wide shortage. The drug Ozempic is only indi- cated for the treatment of adults with insufficiently controlled type-2 diabetes mellitus. But the medicinal was also found to be useful for weight management in non-sufferers over a prolonged period. Diabetes sufferers faced with shortage of weight-loss wonder drug Lack of clarity on new company tax regime causing unease maltatoday Multi-nationals that employ hundreds to be hardest hit by new EU-wide minimum company tax €1.95 Conrad Borg Manche on saving Gzira INTERVIEW MT2 PAGES 8 & 9 EDITORIAL MT2 European Justice Commissioner perplexed by dearth of Russian assets frozen by Malta: 'It is so low that it is abnormal' SEE PAGE 15 Didier Reynders interviewed