Malta Business Review NEWSMAKERS £10,000 for the ‘ITCP TC Global Programme on the effective implementation and enforcement of energy efficiency measures for ships’ Minister for Transport, Infrastructure and Capital Projects Ian Borg met Secretary General of the International Maritime Organisation (IMO) Kitack Lim in London. Minister Borg said that Malta is indeed a firm supporter of the technical cooperation programme and is committed to continue doing its utmost in order to further develop such a programme. As a sign of Malta’s continued support for the valuable work of the IMO, especially in the fight against climate change, Minister Borg said that Malta will be contributing the sum of £10,000 to the ‘ITCP TC Global Programme on the effective implementation and enforcement of energy efficiency measures for ships’. The IMO is a United Nations specialised agency that sets global standards for shipping and is responsible for the safety and security of shipping and the prevention of marine pollution by ships. Malta has been a member since 1996 and currently holds a position in the council. Minister Borg said that Malta remains a firm supporter of the work of the IMO and is committed to continue playing an active role in promoting the aims and objectives of the organisation. Secretary General Kitack Lim praised Malta’s contribution, and also referred to the Valletta Declaration, which outlines the strategic direction that the EU should take for ensuring that the EU maritime industry remains sustainable. The Secretary General and the Minister both referred to the excellent work being carried out at the International Maritime Law Institute (IMLI), which is proudly hosted in Malta– further underlining Malta’s commitment to the IMO training institutions. <strong>MBR</strong> Credit: Ministeru ghat- trasport Infrastruttura u progetti kapitali Photo: MTIP Parliamentary Secretary Julia Farrugia Portelli addresses the Malta Infertility Network conference Whilst addressing the Malta Infertility Network conference, Parliamentary Secretary Photo: DOI- Clifton Fenech Photo: DOI- Clifton Fenech for Reforms, Citizenship and Simplification of Administrative Processes Julia Farrugia Portelli, stated that, “The Government is backed by a strong mandate to change the IVF bill and that is what we will set out to do after the Parliamentary Easter recess.” This new bill will eliminate discrimination, makes IVF more accessible and is intended to benefit both mother and child. Farrugia Portelli explained that infertility is a global health concern which is on the rise and it is said to affect 1 in every 6 reproductiveaged couples. Since it was first made available in Mater Dei some three years ago, 111 births reported through the assisted means of IVF. Before that, couples who had infertility problems had to resort to private healthcare abroad, ending up costing them a fortune. The Parliamentary Secretary emphasised that the Government plans to strengthen the existing law, allowing for better use of assisted reproductive technology, in order to heighten the present success rate, apart from making IVF more accessible with the allocation of more funds. During her speech, Farrugia Portelli outlined that the Government’s decision to allow couples undergo gamete donation treatment abroad to avail themselves of 100 hours of vacation leave, including lesbian couples, signals well. The Parliamentary Secretary concluded that the Government of Malta is taking everything into consideration but most definitely the law will be devised to benefit both mother and child. <strong>MBR</strong> Credit: The parliamentary secretariat for reforms, citizenship and simplification of administrative process Malta supports ECOFIN agreement on fighting aggressive tax planning Malta takes exception at the non-European way that small member states have been labelled in the press recently with regard to the European tax reform process. This was stated by Minister for Finance Edward Scicluna while addressing the Economic and Financial Affairs Council of the European Union, which met today in Brussels. This sentiment was also expressed by the six other member states which, like Malta, have been labelled negatively in the press by the European Tax Commissioner. Minister Scicluna further stated that the unanimous agreement reached during the same meeting today on the proposal to amend Directive on Administrative Cooperation was a testament to all member states commitment, including Malta, in combating aggressive tax planning. Speaking on Malta’s behalf, Minister Scicluna stated that Malta is fully compliant with EU rules and directives on taxation and is also fully compliant with international tax standards. The introduction of ATADI and ATAD II, coupled with today’s unanimous agreement on the proposal for a directive to amend the Directive on Administrative Cooperation, is a further demonstration of our commitment to this cause. The proposal to amend the Directive on Administrative Cooperation provides for mandatory disclosure of potentially aggressive tax planning by extending the obligation to report cross-border tax planning arrangements to intermediaries. In a separate discussion on the Banking Union package, Minister Scicluna referred to the Minimum Requirements for Own Funds and Eligible Liabilities (MREL) proposal and emphasised the importance of making requirements proportional to bank risks. Minister Scicluna stressed the point that small banks need a longer transition to adapt to the new rules as small banks face difficulties in accessing capital markets. Minister Scicluna continued by stating that “imposing unnecessary onerous requirements would impair banks’ ability to finance our economies, with limited benefits in terms of risk reduction”. Furthermore, he stated that “we should also bear in mind that smaller institutions, especially those in smaller member states, have limited access to capital markets”. Meanwhile, the Council added the Bahamas, St. Kitts and Nevis and the US Virgin Islands to the EU list of non-cooperative jurisdictions. Minister Scicluna also participated in the Euro Group meeting which was held on Monday. The Euro Group set June 21 as the deadline for finalising the Greece bailout programme and for agreeing on a package of proposals for Eurozone reform. Minister Edward Scicluna was accompanied by the Permanent Representative of Malta to the European Union Marlene Bonnici and by Permanent Secretary of the Ministry for Finance Alfred Camilleri. <strong>MBR</strong> Credit: The parliamentary secretariat for reforms, citizenship and simplification of administrative process 58 Photo: MFIN
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