TAX CONSIDERATIONS FOR FAMILY BUSINESSES

FinanceMalta

June 21, 2023

TAX CONSIDERATIONS FOR FAMILY BUSINESSES

During this seminar we will be identifying which businesses can considered family businesses and provide an overview of the Family Business Act. We will also provide a general overview of any relevant fiscal incentives and advantages, with particular focus on the reduced rate of duty applicable on certain transfers in the context of family businesses. This is session is targeted towards directors and senior executives as well as any family members who are involved in both managing as well as running their family business. This session is also helpful for tax advisors who both support family business in their day-to-day tax compliance as well as those who are asked to assist when the family business passes from one generation to the other. The seminar will also include a short Q&A session during which the participants have to opportunity to address question to the speakers.

LEVEL: INTERMEDIATE

Overview

Why Attend?

During this seminar we will be identifying which businesses can considered family businesses and provide an overview of the Family Business Act. We will also provide a general overview of any relevant fiscal incentives and advantages, with particular focus on the reduced rate of duty applicable on certain transfers in the context of family businesses. This is session is targeted towards directors and senior executives as well as any family members who are involved in both managing as well as running their family business. This session is also helpful for tax advisors who both support family business in their day-to-day tax compliance as well as those who are asked to assist when the family business passes from one generation to the other. The seminar will also include a short Q&A session during which the participants have to opportunity to address question to the speakers.

Agenda Highlights:

Confirmed Speakers

Elaine Marie Debono - Elaine is an ACCA qualified accountant with over 14 years of experience within the Tax sphere. Elaine joined one of the big-four firms as an ACCA student in 2008 and continued her career with Mazars in Malta as from 2014. Elaine assists clients with their statutory fiscal requirements within various sectors mainly the insurance, hospitality, retail, service, gaming and manufacturing industry. Elaine is presently involved in providing tax advice to both local and international on both corporate as well as personal clients.She also lectured the Advanced taxation module to students who are sitting for their ACCA exams and the Tax Compliance Diploma organised by the Malta Institute of Taxation.
Lorraine Camilleri - Lorraine joined Mazars Malta’s Tax Team in 2015 as a Tax Assistant, after having worked as an Accounts Executive in a company in the communication and technology sector. Lorraine assists clients with their statutory fiscal requirements within various sectors mainly the gaming, banking, insurance, retail, service and manufacturing industry. Lorraine’s more recent assignments include group restructuring, particularly family business restructuring. Lorraine is presently involved in providing tax advice to both local and international clients.Lorraine obtained her Bachelor of Commerce in Accountancy and Banking and Finance from the University of Malta in 2013 and completed her ACCA studies in 2016. She also holds an Advanced Diploma in International Taxation from the Chartered Institute of Taxation. Lorraine is an associate member of the Malta Institute of Accountants and a member of the Association of Chartered Certified Accountants. She is also a member of Chartered Institute of Taxation.