Malta and Germany update Double Taxation Agreement

Malta – 17th June 2010 - A new protocol was introduced in the double taxation agreement signed between Malta and Germany in 2001, in order to combat tax avoidance and evasion in line with Organisation for Economic Co-operation and Development (OECD) recommendations.

Germany is a very important trading partner for Malta with exports to the country totalling around €261 million annually as well as imports at €271 million.

German ambassador Bernd Braun does not see Malta as an offshore haven but as a place for investment. The new protocol aims to provide the right framework for investment to increase.