Last Updated on 26 October 2010
A new agreement between Malta and China for the avoidance of double taxation is expected to boost investment relations between the 2 countries and may also help Chinese investors to tap the EU market more effectively.
The new agreement, which replaces another signed 17 years ago, provides that the withholding tax rate for dividends for a holding of at least 25% of the company paying the dividends has been established at 5% as opposed to 10% under the existing treaty.
Furthermore, the withholding tax rate for certain royalties has been reduced from 10% (under existing DTA) to 7%. The Agreement will enter into force after it is ratified by both countries.
The agreement is in line with current internationally accepted standards and the negotiations took into account the OECD Model Tax Convention on Income and on Capital and recent tax treaties concluded by both countries. The new agreement also establishes better channels for exchange of information to prevent fiscal evasion.
Maltese imports from China have grown from €62 million in 2004 to €117 million in 2009 whilst exports have increased from €15.5 million in 2004 to €27 million in 2009.
Posted in: China & Malta
Last Updated on 01 February 2011
Chinese dancers and artistes yesterday donned ornate, traditional headpieces and long glowing red robes as they paraded along Merchants and Republic streets in Valletta, accompanied by traditional music to welcome the Chinese New Year. Photo: Darrin Zammit Lupi.
The streets of Valletta were briefly transformed into the Orient yesterday morning as Chinese dancers and artistes celebrated the Chinese Spring Festival.
Wearing ornate, traditional headpieces and long flowing red robes, the artistes paraded along Merchant Street and down Republic Street accompanied by traditional music to welcome the Chinese New Year of the Rabbit.
Men wearing loose red trousers performed acrobatics as children also wearing red clothes ran around weaving in and out of the crowd.
The parade, the fifth to be held in Malta, was organised by the China Cultural Centre, the Valletta local council and the Parliamentary Secretariat for Tourism, the Environment and Culture.
The Spring Festival, or the Chinese New Year, is the most important event for the Chinese like Christmas is for the west. The arrival of spring heralds the melting of the ice and snow and the time for seeding.
According to the Chinese Zodiac, this is the Year of the Rabbit, which begins on Thursday and ends next January 22. The rabbit is the fourth sign of the Chinese Zodiac. Rabbits are private individuals and make good teachers, counsellors and communicators but need their own space. People born in the Year of the Rabbit are kind, talented and like painting and music. They love hunting for antiques, arts and crafts and tend to make sound investments in these areas.
Posted in: China & Malta