L-Ambaxxata ta’ Malta ċċelebrat Jum l-Ewropa

L-Ambaxxata ta’ Malta f'Washington ċċelebrat Jum l-Ewropa fid-9 ta’ Mejju bil-ftuħ tal-bibien tagħha għall-pubbliku bħala parti mill-avveniment ‘EU Open House’. Id-Delegazzjoni tal-Unjoni Ewropea u l-Ambaxxati ta’ 28 Stat Membru tal-Unjoni Ewropea lejn l-Istati Uniti saru jiftħu l-bibien tagħhom għall-pubbliku f’Washington matul dan l-avveniment annwali li sar il-qofol tal-kalendarju kulturali ta’ Mejju f’din il-belt. Matul dan il-jum, il-pubbliku jiġi offrut ħarsa rari ġewwa l-bini ta’ dawn l-Ambaxxati u jiġi pprovdut opportunità unika sabiex jesperjenza il-wirt kulturali u t-tradizzjonijiet nazzjonali ta’ dawn il-pajjiżi.

Aktar minn 1,000 viżitaturi esperjenzaw l-ospitalità Maltija hekk kif kienu milqugħa fl-Ambaxxata Maltija b'togħma ta’ qagħaq tal-ġunġlien, torta tat-tamal u rinfreski. L-istaff tal-Ambaxxata wieġeb mistoqsijiet dwar l-istorja, l-lingwa, l-kultura, l-ekonomija u l-ħajja f’Malta filwaqt li qassmu materjal promozzjonali dwar Malta. Videos tal-ħafna attrazzjonijiet u pajsaġġi xeniċi f’Malta ġew murija matul il-ġurnata. Filwaqt li xi wħud minn dawk li żaru l-Ambaxxata kienu diġà żaru l-Gżejjer Maltin, oħrajn kienu ħerqana biex jesperjenzaw Malta għall-ewwel darba u fittxew l-informazzjoni dwar il-vjaġ lejn Malta u attrazjonijiet turistiċi.

Matul il-jum, ċ-Ċentru ta’ Studju Malti fi ħdan il-Mużew u Librerija tal-Manuskritti Hill, nieda wirja dwar l-istorja ta' l-arkivji Maltin u l-ħidma għall-preservazzjoni tagħhom li qiegħda titwettaq miċ-Ċentru ta’ Studju Malti. Il-wirja kienet tinkludi diversi panels illustrati li jiddeskrivu l-wirt arkivjali għani ta' Malta, li jinkludi r-repożitorji ewlenin fosthom dawk ta' l-Arkivji tal-Katidral, l-Arkivji Nazzjonali, l-Arkivji Nutarili, l-Arkivji ta' l-Ordni ta' Malta li jinstabu fil-Librerija Nazzjonali, u l-Arkivji Olof Gollcher fil-Mużew tad-Dar Storika, Palazzo Falson.

Dan l-avveniment offra liċ-Ċentru ta’ Studju Malti opportunità unika biex jenfasizza l-istorja manuskritt rikka ta' Malta u l-arkivji tagħha lill-membri ta' l-UE u l-viżitaturi mill-Istati Uniti fl-ambaxxata bħala preparazzjoni għall-2018 meta l-Belt Valletta sejra tkun il-Kapitali Kulturali tal-Ewropa.

Embassy of Malta celebrates Europe Day

The Embassy of Malta in Washington celebrated Europe Day on the 9th of May by opening its doors to the public as part of the EU Open House event. 

This year the Ambassador HE Marisa Micallef organised a cultural event about Malta’s rich treasure of archives with the support of the Malta Study Centre in Minnesota and the collaboration of the Honorary Consul General Mr. Joseph Micallef.

Dr. Daniel Gullo of the Malta Study Centre of the Hill Museum & Manuscript Library curated an exhibit showcasing the history of the Maltese archives and the preservation work of the Malta Study Centre. The exhibit included several illustrated panels describing the rich archival heritage of Malta, including the major repositories of the Cathedral Archives, National Archives, Notarial Archives, the Archives of the Order of Malta held in the National Library, and the Olof Gollcher Archives at the Palazzo Falson Historic House Museum.  

The event offered the Malta Study Centre a unique opportunity to highlight the rich manuscript history of Malta and its archives to members of the E.U. and U.S. visitors to the embassy in preparation for Valletta being the Cultural Capital of Europe in 2018.

The Delegation of the European Union and the Embassies of 28 EU Member States to the United States open their doors to the Washington public during this annual event which has become the highlight of the city’s May cultural calendar.  On this day, the public is offered a rare look inside the Embassy buildings and is provided with a unique opportunity to experience the countries’ cultural heritage and national traditions.

More than 1,000 visitors experienced Maltese hospitality first hand as they were welcomed into the Maltese Embassy with a taste of homemade ‘qagħaq tal-ġunġlen’ (sesame rings), ‘torta tat-tamal’ (date cake) and refreshments made by the Embassy’s own housekeeper.  

The Embassy’s staff answered questions about Maltese history, language, culture, economy and way of life, and distributed promotional material on Malta .Videos of Malta’s many attractions and scenic landscapes were shown throughout the day.  While some of those visiting the Embassy had already visited and fallen in love with the islands, others were eager to experience Malta for the first time and sought information on travelling to and visiting Malta. 

Photographic exhibition "Discover the USA" open to the public, May 8-25, 2015

The U.S. Embassy cordially invites you and your family/guests to visit a photographic exhibition “Discover the USA” at St. James Cavalier Center for Creativity between May 8 and 25, 2015. 

Malta – An Educational Hub In The Mediterranean

The American University of Malta (AUM) proposed project, a €115 million investment, envisaged to create 400 new jobs whilst also hosting 4,000 students was announced today by Prime Minister Joseph Muscat.

After an introduction given by Sadeen Group on the launch of the project, Prime Minister Joseph Muscat gave a closing speech by sharing two good news where he reiterated that the AUM project is aimed at consolidating Malta’s already excellent reputation whilst also serving as an education hub in the Mediterranean.

Dr Muscat continued by saying that, the proposed project will aid in accelerating the development and the attraction which Malta poses as an education destination for students from all over the region and beyond.

The Prime Minister went on further in expressing his satisfaction that Sadeen Group chose Malta as the destination for this investment and also for them having teamed up with the acclaimed De Paul University of Chicago, which will offer international students a cutting edge experience in Malta.

Whilst admitting that he was looking forward to having Maltese students avail themselves of these world class programmes, the Prime Minister said that the government will be negotiating hard for scholarships to be offered to Maltese students. The Prime Minister also urged this new addition to the education eco-system to work with the other institutions, namely the University of Malta, Barts Medical School, the Malta College for Arts, Science and Technology, and the Institute for Tourism Studies, amongst others and claimed that, such synergies, can result in value-added to the Maltese economy.

The Prime Minister said that the AUM project will be based in the underestimated southern part of Malta which so far has only seen polluting investments and will be conceived within the framework of sustainable development, blending into the environment with cutting edge technologies.

Dr Muscat then announced the second equally important good news which is the establishment of a National Natural Park in Marsascala. This park will include the foreshore and the area adjacent to the zone earmarked for the AUM. It will include at least 450 to 500 tumoli of land which will be permanently protected.

Also part of this second proposal is the AUM’s aim at opening sport facilities to the local communities and the rehabilitation of the former national pool giving the communities of the area the much needed recreational and sport facilities.

The government, said Dr Muscat, is sending a clear message, that it is as serious about the environment as it is about creating wealth and distributing it in a fair manner.

Informazjoni fuq FATCA

Peress li fis-26 ta’ Ġunju, 2014, f’Malta daħlet fis-seħħ liġi ġdida: il-Foreign Account Tax Compliance Act (FATCA), minn dakinhar inbidlu ħafna affarijiet dwar kif wieħed jimla l-formoli tat-taxxa tal-Amerika. Il-FATCA hu ftehim bejn Malta u l-Amerika li bih iż-żewġ gvernijiet qablu li jaqsmu ma’ xulxin informazzjoni dwar accounts finanzjarji li ‘U.S. Persons’ għandhom kemm f’Malta kif ukoll fl-Amerika u pajjiżi oħrajn. Hawnhekk se nipprova nispjega fil-qosor u b’mod li jista’ jifhmu kulħadd kif din il-liġi tista’ taffettwak. Aqra sewwa dawn id-dettalji ħalli tifhem kif int se tiġi affettwat u liema sitwazzjoni tapplika għalik.

Il-gvern Amerikan diġà għandu diversi ftehimiet ma’ ħafna pajjiżi fir-rigward ta’ din il-liġi tal-FACTA, u fil-futur qarib hu mistenni li pajjiżi li sal-lum għadhom ma daħħlux fis-seħħ din il-liġi, se jdaħħluha. Dan ifisser li se jsir kważi impossibbli li U.S. Person tista’ taħbi l-flus tagħha f’pajjiżi barra mill-Amerika, tkun fejn tkun tgħix fid-dinja.

1. Xi tfisser U.S. Person?

U.S. Person hi kwalunkwe persuna li hi:

a) ċittadin Amerikan – jiġifieri persuna li għandha passaport Amerikan. Dan jinkludi persuni li għandhom ċittadinanza doppja (eż. Maltija u Amerikana); jew

b) persuna li għandha Green Card. Din il-persuna tissejjaħ Resident Alien, u għal skopijiet ta’ taxxa, hi kkunsidrata l-istess bħal ċittadin Amerikan. Dan jinkludi wkoll:
• persuni li l-Green Card tagħhom skadiet jew tilfuha, jew 
• persuni li l-Green Card tagħhom itteħditilhom minn xi Ambaxxata Amerikana fi kwalunkwe pajjiż u ma ngħatawx riċevuta jew ittra li sar hekk; iżda ma jinkludix 
• persuna li tkun irċeviet avviż bil-miktub mill-U.S. Citizenship and Immigration Service (USCIS) li l-Green Card tagħha ġiet revokata. Dan ifisser li dik il-persuna m’għadhiex ikkunsidrata iżjed li hi U.S. Person. (ara http://www.IRS.gov/pub/IRS-pdf/p4588.pdf)

2. Kif se taffettwani l-FATCA?

Jekk inti U.S. Person kif definit hawn fuq, il-FATCA se taffettwak kif ġej. Dan japplika kemm jekk qed tgħix f’Malta kif ukoll fi kwalunkwe pajjiż li għandu ftehim mal-Amerika dwar il-FATCA:

a) Il-banek ta’ Malta (u entitajiet finanzjarji oħrajn, bħall-Borża ta’ Malta, kumpaniji tal-insurance jew stockbrokers) se jidentifikaw dawk il-persuni li jaqgħu taħt id-definizzjoni ta’ U.S. Person u se jibagħtu d-dettalji dwar l-accounts li għandhom dawk il-persuni lill-gvern Malti, li min-naħa tiegħu se jaqsam din l-informazzjoni mal-Internal Revenue Service (IRS), li hu d-dipartiment tat-taxxa tal-Amerika. Min-naħa tagħhom, l-IRS se jagħmlu l-istess mal-gvern Malta (jiġifieri, se jibagħtu lill-gvern ta’ Malta dettalji dwar accounts li dik il-U.S. Person ikollha l-Amerika). Dan jinkludi kemm il-persuna kellha flus f’kull account, l-imgħax li qalgħet kull sena, u dettalji oħrajn.

b) Il-U.S. Persons huma obbligati bil-liġi Amerikana li jimlew IRS Form 8938 - Statement of Specified Foreign Financial Assets, għal accounts finanzjarji (inklużi bank accounts, time deposits/CDs, stocks, bonds, mutual funds, annuities u insurance contracts) li għandhom barra mill-Amerika, jekk jinqabeż l-ammont imsemmi f’paragrafu c) hawn taħt. Dan għandu jsir kull sena. Il-multa għal min ma jimliex din il-formola hi ta’ $10,000.

c) Dawn li ġejjin huma l-ammonti (threshholds) għal U.S. Persons li jgħixu barra mill-Amerika s-sena kollha jew li għamlu mill-inqas 330 jum (madwar 11-il xahar) jgħixu barra mill-Amerika. Jekk dawn l-ammonti jinqabżu, dak li jkun irid jimla din il-formola. Il-multa għal min ma jimliex din il-formola hi ta’ $10,000. Din il-formola trid tinbagħat kull sena mal-formola tat-taxxa sal-15 ta’ April (jekk ikun hemm xi ħlas ta’ taxxa dovut) iżda mhux iktar tard mit-30 ta’ Ġunju jekk tintalab filing extension. Jekk ma jkunx hemm taxxa dovuta u jekk ma tkunx obbligat timla l-formola tat-taxxa għal dik is-sena partikulari, din il-formola m’hemmx bżonn li timtela, anki jekk l-ammonti t’hawn taħt jinqabżu.

• Persuni mhux miżżewġin/romol: Jekk il-valur totali tal-assets finazjarji barra mill-Amerika jkun ta’ iktar minn $200,000 fl-aħħar jum tas-sena jew iktar minn $300,000 fi kwalunkwe ħin matul is-sena;

• Persuni miżżewġin li jimlew il-formola tat-taxxa tal-Amerika bħala Joint Return: Jekk il-valuri totali tal-assets finazjarji barra mill-Amerika jkun ta’ iktar minn $400,000 fl-aħħar jum tas-sena jew iktar minn $600,000 fi kwalunkwe ħin matul is-sena;

• Persuni miżżewġin li jimlew il-formola tat-taxxa tal-Amerika bħala Separate Return: Jekk il-valuri totali tal-assets finazjarji barra mill-Amerika jkun ta’ iktar minn $200,000 fl-aħħar jum tas-sena jew iktar minn $300,000 fi kwalunkwe ħin matul is-sena.

d) Il-U.S. Persons huma wkoll obbligati li jissottomettu online Form TD F 90-22.1 “Report of Foreign Bank and Financial Accounts” (FBAR) jekk l-ammont totali tal-bank accounts tagħhom barra mill-Amerika (inklużi stocks, bonds, mutual funds, annuities u insurance contracts) ikun ta’ aktar minn US$10,000 (jiġifieri madwar €9,250) fi kwalunkwe ħin matul is-sena. Hemm multa għal min ma jissottomettix din l-informazzjoni (l-inqas multa hi ta’ US$10,000). Dan ifisser li kull min jaqa’ taħt id-definizzjoni ta’ U.S. Person irid jimla u jibgħat din il-formola, għax nassumi li kulħadd għandu talinqas €9,250 il-bank hawn Malta. Din il-formola trid timtela online mhux aktar tard mit-30 ta’ Ġunju.

3. Ħelsien mit-Taxxa Doppja

Jekk inti U.S. Person kif definit hawn fuq, u qed tgħix Malta, inti suppost li qed tiddikjara d-dħul kollu minn kwalunkwe sors madwar id-dinja, kull sena lill-IRS. Iżda, billi hemm Double Taxation Agreement bejn Malta u l-Amerika:

a) mhux suppost li se tħallas taxxa doppja fuq xogħol u qligħ li tkun għamilt f’Malta u li fuqu qed tħallas it-taxxa Malta. Dan japplika wkoll għal imgħax u dividends;
b) il-pensjoni tas-Social Security mhijiex taxxabbli f’Malta u l-pensjoni tal-irtirar ta’ Malta mhijiex taxxabbli l-Amerika;
c) imgħax iddikjarat l-Amerika u li fuqu tħallset it-taxxa l-Amerika, mhuwiex taxxabbli f’Malta (avolja xorta jrid jiġi ddikjarat). Imgħax iddikjarat f’Malta u li fuqu tħallset it-taxxa Malta, mhuwiex taxxabbli l-Amerika (avolja xorta jrid jiġi ddikjarat).

4. X’għandi nagħmel?

Biex tevita problemi mal-awtoritajiet tat-taxxa Maltin u Amerikani fil-futur, hu rakkomandat li tagħmel dan li ġej:

a) tiċċekkja ma’ kull bank/entità finanzjarja li magħhom għandek flus investiti, biex tara jekk humiex obbligati jirrappurtaw informazzjoni lill-IRS dwar il-kontijiet li għandek magħhom;
b) jekk inti taqa’ taħt id-definizzjoni ta’ U.S. Person, u għandek kontijiet f’xi bank/entità finanzjarja Maltija jew barra mill-Amerika, u l-ammont totali tagħhom fi kwalunkwe ħin matul is-sena kien ta’ iktar minn US$10,000 (€9,250), għandek timla online Form TD F 90-22.1 “Report of Foreign Bank and Financial Accounts” (FBAR) qabel it-30 ta’ Ġunju;
c) jekk it-total tal-kontijiet kollha li għandek fil-banek/entitajiet finanzjarji Maltin/barra mill-Amerika jaqbeż l-ammonti msemmija għall-IRS Form 8938 - Statement of Specified Foreign Financial Assets hawn fuq, għandek timla u tibgħat din il-formola malajr kemm jista’ jkun.
d) tiddikjara l-imgħax/dividends/pensjonijiet tal-union/pensjonijiet oħrajn (imma mhux tas-Social Security) u qligħ ieħor li għandek dieħel mill-Amerika fuq il-formola tat-taxxa ta’ Malta.
e) Tħallas il-Final Withholding Tax fuq l-imgħax/dividends kollha lokali, għax jekk le, jista’ jagħti l-każ li jkollok tħallas rata ogħla ta’ taxxa fuq il-formola tat-taxxa Amerikana.

Nissuġġerixxi li titkellem mal-Compliance Officer/Manager ta’ kull bank/entità finanzjarja li għandek xi account magħha, jew ma’ xi ħadd (pereżempju xi ħadd fid-Dipartiment tat-Taxxa ta’ Malta) li jifhem fuq din il-liġi tal-FATCA, biex tara kif se taffettwak. Jekk tal-bank jgħidulek li m’intix imniżżel fir-records tagħhom bħala U.S. Person kif definit hawn fuq, dan ma jfissirx li għandek isserraħ rasek, għax malli tiftaħ xi account ġdid fi kwalunkwe bank, suppost li se tiġi mistoqsi jekk intix ċittadin Amerikan jew jekk għandekx Green Card, u se tintalab tiffirma formola (jew W-9 jew W8-BEN, skont jekk intix ċittadin Amerikan jew Green Card holder). Jekk dan jiġri, jien qed nassumi li kull account li għandek f’dak il-bank se jiġi aġġornat u mmarkat li hu ta’ U.S. Person, u jekk tkun immarkat hekk f’bank wieħed, iċ-ċansijiet huma li llum jew għada, kull account li għandek Malta se jkun immarkat li hu ta’ U.S. Person, u b’hekk il-FATCA tibda tapplika għalik. Illum, bis-software li għandhom il-banek, hu faċli ħafna li jsibu l-informazzjoni kollha li jridu jsibu dwarek. 

5. Hemm xi mod kif nista’ neħlisha minn din il-liġi tal-FATCA jekk jien U.S. Person?

Safejn naf jien hemm mod wieħed biss biex tagħmel dan – li tiċħad il-Green Card jew iċ-ċittadinanza Amerikana tiegħek.

• Biex tiċħad il-Green Card, trid timla u tibgħat INS Form I-407 flimkien mal-Green Card tiegħek. Ma trid tħallas xejn biex tagħmel din il-proċedura. Din il-proċedura teħilsek minn kull effett tal-FATCA, iżda, jekk tiċħad il-Green Card, mhux se tkun tista’ timla aktar il-formola tat-taxxa tal-Amerika biex iġġib lura t-taxxa ta’ 30% li tkun inżammitlek minn fuq is-Social Security benefits li tirċievi mill-Amerika.

• Biex tiċħad iċ-ċittadinanza Amerikana tiegħek, il-proċess hu iktar twil u kkumplikat u hemm spiża ta’ $2,350 biex tapplika biex tiċħadha. Jista’ jkollok tħallas ukoll taxxa speċjali (exit tax) jekk għandek net worth għolja.

Minħabba din il-liġi tal-FATCA, il-formola tat-taxxa tal-Amerika saret iktar ikkumplikata u tieħu ħafna iktar ħin biex timtela. Li taħbi jew tigdeb fuq xi account jew ma tirrappurtax xi ammonti ta’ qligħ li suppost li tiddikjara, se jfisser biss li llum jew għada tkun qed iġġib il-ġebla fuq saqajk, u bil-mezzi li hawn illum, hemm ċans kbir li tinqabad. Jien ma rrid inbeżża’ lil ħadd, imma nħossni fid-dmir li lil dak li jkun nurih l-istampa kollha u l-konsegwenzi kollha li jista’ jiffaċċja, u nħalli lilu jiddeċiedi jekk iridx jorqod rasu mistrieħa jew joqgħod jinkwieta u jħammem il-ħin kollu jekk hux se jinqabad. L-għażla hi f’idejk, u f’idejk biss. Issa għandek l-informazzjoni kollha. 

How does FATCA affect you?

What prompted me to get in touch was a recent spate of communication by some of you regarding FATCA. Some people who spoke to me are seriously concerned about the state of events and there is a lot of controversy about it.

The not-for-profit organization ACA claims that one of FATCA's problems is citizenship-based taxation. ACA is calling for the US to change its taxation system to a residence-based taxation as is the case with ALL other OECD countries.

The following links can give you a better insight into the subject: 

• http://www.washingtontimes.com/news/2014/may/5/superlawyer-jim-bopp-takes-on-mccain-backed-tax-ac/?page=all.
• https://americansabroad.org/issues/fatca/
• https://americansabroad.org/issues/fatca/fatca-bad-america/
• https://www.democratsabroad.org/sites/default/files/Democrats%20Abroad%202014%20FATCA%20Research%20Report_0.pdf
• http://www.repealfatca.com/index.asp?idmenu=4&idsubmenu=146&title=why-republicans-are-right-to-support-repeal-of-fatca
• http://www.huffingtonpost.com/news/fatca/

We would like to hear your thoughts and opinions on how this will affect you.

US Ambassador Adresses Fatca Information Event

American citizens residing in Malta, including a number of returned Maltese migrants attended an information session at which the US FATCA legislation and its impact were explained by industry experts.

Her Excellency Gina Abercrombie-Winstanley, the US Ambassador to Malta was keynote speaker. Her opening address urged US taxpayers living in Malta to ensure their US tax affairs are in order.

Dr. Jonathan Phyall, Senior Legal & Compliance Officer at APS Bank Ltd explained that the Inter-Governmental Agreement signed between the Malta and US governments to implement FATCA imposes certain obligations on Maltese banks and financial institutions. As of this year, Maltese financial institutions are required to report to Malta’s Inland Revenue Department (IRD) financial assets held by American citizens in Malta. The first such report covering the period 1st July 2014 to 31st December 2014 is due shortly in April 2015.

Mr. Pierre Vella, a Project Manager at the Malta Information Technology Agency (MITA) described how the information collected from financial institutions and reported to the IRD will be transmitted to the Inland Revenue Service (IRS), the US tax authority.

Mr. Massimo Pelli, European Manager of Corporate TeamWorks Inc, a leading US tax consultancy represented in Malta by Athena International Ltd took the floor next. He clarified the point that all holders of US Passports or valid Green Cards have an obligation to make an annual tax declaration to the US IRS. In recognition of the fact that many expats or returned migrants may have non-wilfully omitted to make their IRS declarations, new “streamlined” procedures are currently available that offer US taxpayers the opportunity to reach compliance with the IRS without risk of penalties.

Contact Athena today or request a callback to find out more.