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MT 21 May 2017

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JAMES DEBONO MaltaToday's latest sur- vey has shown few changes over last week's poll, with Opposition leader Simon Busuttil narrowing Prime Minister's Joseph Muscat's trust lead by 0.6 points from 5.3 to 4.7 points, and the PN slightly narrowing the PL's lead from 3.9 to 3.6 points. All differences fall within the margin of error of both surveys. An extrapolation of the survey after removing un- decided voters and non- voters would give Labour 51.9%, the PN 47.3% and AD 0.8%. The gap between the two main parties remains with- in the margin of error of the survey. The survey shows 5.7% of Labour voters (down from 6.3% last week) in 2013 shifting from the PL to the PN and 1.9% (down from 3% last week) of PN voters in 2013 shifting from the PN to the PL. In actual figures this would trans- late into the PL losing some 9,549 votes to the PN and the PN losing circa 2,516 votes to the PL over the 2013 election figures. The survey also shows the PL losing 1.5% of its 2013 voters to abstention, com- pared to 0.6% lost by PN. If translated in actual votes this would translate in Labour losing 2,512 votes and the PN los- ing 794 votes. Newspaper post MATTHEW VELLA 16-19 TRUST RATING 43.9% 39.2% +0.2pp +0.8pp Trust rating among 750 respondents for 21 May 2017, and difference over last survey of 14 May 2017 SUNDAY • 21 MAY 2017 • ISSUE 915 • PUBLISHED EVERY WEDNESDAY AND SUNDAY SUNDAY • 21 MAY 2017 • ISSUE 915 • PUBLISHED EVERY WEDNESDAY AND SUNDAY • PUBLISHED EVERY WEDNESDAY AND SUNDAY maltatoday SUNDAY • 21 MAY 2017 • ISSUE 915 • PUBLISHED EVERY WEDNESDAY AND SUNDAY today today • PUBLISHED EVERY WEDNESDAY AND SUNDAY today • PUBLISHED EVERY WEDNESDAY AND SUNDAY A tax regime jealously guarded by the Maltese political class comes under scrutiny PAGES 10-11 Labour still leads by four points, Muscat trust steady MALTATODAY SURVEY THE Malta Files are an important journalistic endeav- our whose time had come thanks to the technological advancement of the media: not just the ability to scrape data from publicly available sources, but to effectively create a network of journalists putting their heads to- gether and discuss their findings from this data leak. But Malta's imputation system, which foreign com- panies benefit from thanks to an 85% rebate on the taxes they pay here, is an old system – old and revered by the financial services industry, which employs thousands, and the Maltese political class. Defending Malta's reputation in Europe has been part and parcel of the finance minister's job: the MFSA had employed lobbyists in Washington DC to prevent the Stop Tax Haven Abuse bill from targeting Malta; in 2009, when the German press was already reporting about BASF's tax residency in Malta, finance minister Tonio Fenech had to deny press reports by Der Spiegel (an EIC partner); Edward Scicluna has had to steer new anti-money laundering rules with Malta as president of the European Council under the shadow of Panama Papers. So Malta Files surprises few of those who have been following the vicissitudes of this system: MaltaTo- day especially, whose reports on tax avoidance has never earned it any plaudits, and the Maltese Greens, the only part of the political class that has criticises these tax schemes. YOUR FIRST READ AND FIRST CLICK OF THE DAY WWW.MALTATODAY.COM.MT THE FAT CATS OF MALTA Peanuts paid in Malta tax by fast loans empire that charges extortionate interest rates to poor clients MALTA NOSTRA Registry reveals Mafi a associates setting up shop 4 FOUR magistrates are now working round the clock on four separate inquiries linked to allegations con- cerning the Prime Minis- ter and chief of staff Keith Schembri, as well as two complaints on the leak of FIAU reports. The most recent magiste- rial inquiry is being headed by Magistrate Doreen Clark, after a complaint was lodged by the Financial Intelligence Analysis Unit itself over reports published in The Times and Malta Independ- ent, on its compliance re- ports on Pilatus Bank. Another inquiry headed by Magistrate Consuelo Scerri Herrera concerns the leak of a preliminary report penned by former FIAU director Manfred Galdes, to the then Commissioner of Police Mi- chael Cassar in April 2016, also dealing with Pilatus Bank. PAGE 3 €1.75 FIAU filed inquiry complaint Muscat still leads in the polls as the election enters its fourth week PHOTO CHRIS MANGION Embrace change. Thrive in Chaos. Know Different. Boston Trust Limited is licensed by the Malta Financial Services Authority to provide trust and fiduciary services in terms of the Trusts and Trustees Act.

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