A Description of the Residence Programs in Portugal, Malta and Italy
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Portugal's Economy Contracted Sharply in 2020 As the Spread of The
2.16. PORTUGAL Portugal’s economy contracted sharply in 2020 as the spread of the COVID-19 pandemic took a heavy toll on all aspects of social and business activities, with a particularly strong impact on the country’s large hospitality sector. Portugal’s GDP is estimated to have fallen by 7.6% in 2020. Quarterly rates closely followed the evolution of the pandemic and the consequent introduction of restrictions. After a cumulative drop of around 17% in the first half of 2020, GDP rebounded by 13.3% in 2020-Q3. However, the resurgence of infections brought new restrictions towards the end of the year and GDP growth weakened to 0.4% in the last quarter. With the introduction of a more stringent lockdown in mid-January 2021, GDP is projected to fall again in the first quarter of 2021, before starting to recover as of the second quarter of the year, with a major rebound in the summer months. This entails expectations for a notable rebound in tourism in the summer, particularly in intra- EU travel, and a more gradual recovery thereafter. However, the tourism sector is projected to remain somewhat below its pre-crisis level until the end of the forecast period. In full-year terms, GDP is projected to grow by 4.1% in 2021 and 4.3% in 2022. A full return to pre-pandemic levels is expected towards the end of 2022 but risks remain significant due to the country’s large dependence on foreign tourism, which continues to face uncertainties related to the evolution of the pandemic. -
Anatomies of Spanish Settlers in Malta Between 1580 and 1648: Their Family Stories Simon Mercieca [email protected]
Anatomies of Spanish Settlers in Malta between 1580 and 1648: Their Family Stories Simon Mercieca [email protected] Abstract: This paper will attempt to reconstruct the different identity kits of Spanish settlers in Malta between 1580 and 1648. The analysis shall use the Status Liberi documentation which is a series of Ecclesiastical Acts recording the assessment of foreigners by an ecclesiastical judge of those outsiders who wished to get married in Malta. This procedure was undertaken to verify whether the candidate was single or not, the former being and remains a sine qua non for marriage. The surviving documents recount the lives of these settlers before taking up permanent residence in Malta and highlight the reason behind their decision to settle down in Malta. The most fascinating aspect of these documents is that these stories are recounted by the protagonists themselves. They give insight to issues of identity and shared memory among the Spanish settlers. In the majority, they were simple folk without any pretensions or extraordinary expectations. Were it not for such a prerequisite their life histories would have been lost forever. Keywords: Malta, Spaniards, Status Liberi, marriage, seafaring, identity The Research Methodology n the following analysis I will attempt the reconstruction of what one might term to have been a ‘Spanish’ identity in Malta at a time Iwhen Europe was passing through widespread political turmoil as a result of the Wars of Religion. My historical-critical interpretation of this past migratory experience will be based on the patchy survival of court Symposia Melitensia Number 11 (2015) SYMPOSIA MELITENSIA NUMBER 11 (2015) records. -
Taxation of Income of Researchers in Italy
Taxation of income of researchers in Italy Acknowledgements: This Guide has been prepared by Valentina Mayer and produced within the project EURAXESS T.O.P. II – Network Call, managed by CRUI Foundation. This Guide is purely for information purposes and provides information on practical and administrative procedures in Italy. The information and indications that it contains do not replace official sources of information and provide no bases for claims or legitimate expectations of any kind. The contents of this Guide were last updated in September 2014. Information in this Guide should be always double-checked with host institutions or relevant official sources of information. © 2014 Fondazione CRUI Piazza Rondanini, 48, 00186 Roma Info: [email protected] The book is published under Creative Commons - Attribution Non commercial - No Derivative Works 3.0 Information about http://creativecommons.org/licenses/by-nc-nd/3.0/ Content Introduction …….…..……………………………………………………..…......................................................................... 1 1. Tax system in Italy...……………………................................................................................................................. 1 1.1 Tax Identification Code………………………….................................................................................................................... 2 1.2 Income tax ................................................................................................................................................................................ -
Synthesised Text of the MLI and the Ireland
SYNTHESISED TEXT OF THE MLI AND THE CONVENTION BETWEEN IRELAND AND MALTA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME General disclaimer on the Synthesised text document This document presents the synthesised text for the application of the Convention between Ireland and Malta for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and Capital Gains signed on 14 November 2008 (the “Convention”) as modified by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting signed by Ireland and by Malta on 7 June 2017 (the “MLI”). This document was prepared in consultation with the competent authority of Malta and represents our shared understanding of the modifications made to the Convention by the MLI. This was prepared on the basis of the MLI position of Ireland submitted to the Depositary upon ratification on 29 January 2019 and of the MLI position of Malta submitted to the Depositary upon ratification on 18 December 2018. These MLI positions are subject to modifications as provided in the MLI. Modifications made to MLI positions could modify the effects of the MLI on the Convention. The authentic legal texts of the Convention and the MLI take precedence and remain the legal texts applicable. The provisions of the MLI that are applicable with respect to the provisions of the Convention are included in boxes throughout the text of this document in the context of the relevant provisions of the Convention. The boxes containing the provisions of the MLI have generally been inserted in accordance with the ordering of the provisions of the 2017 OECD Model Tax Convention. -
Residence and Visa Program
Malta Residence and Visa Program Malta has been a member of the European Union (EU) The Malta Residence and Visa Program (MRVP) was since 2004 and is a stable, neutral and highly respected implemented in 2015 under the Immigration Act (Cap. 217). country. Located in the middle of the Mediterranean Sea, The legal basis regarding the MRVP is contained in the the Maltese archipelago has risen to be one of Europe’s Malta Residence and Visa Program Regulations, 2015. leading investment locations, driven by its reputation for These Regulations allow duly qualified, reputable third stability, predictability and security. This has made Malta country nationals (non EU, EEA or Swiss nationals) and stand out among other global business and financial their families, who make a contribution to the economic centers. The island nation comprises of three islands: development of Malta, to be granted a Maltese Residence Malta, Gozo and Comino, with a total population of over Permit, allowing the individuals the right to reside, settle 400,000 inhabitants occupying an area of 316 km2. The and stay indefinitely in Malta, with free movement of travel national language is Maltese but the official languages of within the Schengen area. the country are both Maltese and English. Malta boasts an excellent climate, friendly people and a low crime rate. Requirements and are not married. Additionally, parents or grandparents of the main applicant or their spouse may also be included The main applicant must be at least 18 years of age to qualify in the application as dependents if they are not economically and must provide an affidavit declaring that from the date active and are principally dependent on the main applicant. -
Memorandum of Understanding
MEMORANDUM OF UNDERSTANDING Between the Minister of Environment and Climate Action of the Portuguese Republic and the Minister of Economic Affairs and Climate Policy of the Netherlands In the field of Energy – Hydrogen The Minister of Environment and Climate Action of the Portuguese Republic and the Minister of Economic Affairs and Climate Policy of the Netherlands (hereinafter referred to as “Signatories”), affirm their intentions to connect Portugal's and the Netherlands's 2030 Hydrogen plans, especially on green hydrogen, in order to contribute to decarbonise the economy and to create a forward-looking European hydrogen infrastructure and market in the near future, in line with the EU climate goals. Therefore, the Ministers acknowledge: • The need to achieve the European Union (EU) 2030 climate and energy targets and draw the path towards carbon neutrality in Europe by 2050, in line with the Paris Agreement and the National Energy and Climate Plans, as a sign of our commitment for the future of Europe and its citizens. • The potential of hydrogen, namely green hydrogen produced from renewable sources, for the decarbonisation of hard-to-abate sectors, such as industry and transport, as well as its key role in the future European energy system based on sector coupling and the development of energy storage. • The urgent need to scale up the production of hydrogen in the EU in a coordinated and timely way, to ensure thereby safe, competitive, available and sustainable energy supply, while enhancing international cooperation to create a global hydrogen market. The Ministers, express their intentions to: • Strengthen the ties of friendship and to enhance the bilateral cooperation between the two EU Member States, as well as the reciprocal interests in the field of energy, namely in the area of green hydrogen. -
GOING GLOBAL EXPORTING to SPAIN and PORTUGAL a Guide for Clients
GOING GLOBAL EXPORTING TO SPAIN AND PORTUGAL A guide for clients #GlobalAmbition Capital city Madrid Currency ¤ Population 46.7m1 GDP per capita ¤25,0012 GDP growth MADRID 2.5% (2018), 2.1% (2019)3 GDP ¤1,208,2484 Unemployment rate 14.7% (2017)5 Enterprise Ireland client exports (2018) ¤338.6m6 2 WHY EXPORT TO SPAIN? With seven times the landmass of decreased by 1.23% in 2018 compared to the same period in 2017 (Jan-Dec). Exports in 2018 stood at Ireland and 10 times the population, €2,564 million while imports totalled €1,441 million - the scale of Spain is not to be a balance of €1,123 million in Ireland’s favour. Exports underestimated. by Enterprise Ireland clients reached €338.6 million in 2018.14 Neither is the size of the opportunity it can offer, not least because of its role as a valuable bridge to the Sectoral success South American market. Spain has been historically a very important point of Having suffered enormously in the financial trade in Europe. While the market has been perceived crash, the country is showing sustained recovery. as a more difficult Eurozone market to enter for According to an IMF report in late 2018, Spain’s exporters, this is changing. Spain is currently economy has continued to grow strongly, reflecting experiencing a post-crisis renaissance in business. its improved fundamentals. The country’s real GDP This paves the way for new opportunities for Irish and employment growth are set to exceed that exporters, in nascent Irish-Spanish export sectors of the euro area for the fourth year in a row. -
Automatic Exchange of Information: Status of Commitments
As of 27 September 2021 AUTOMATIC EXCHANGE OF INFORMATION (AEOI): STATUS OF COMMITMENTS1 JURISDICTIONS UNDERTAKING FIRST EXCHANGES IN 2017 (49) Anguilla, Argentina, Belgium, Bermuda, British Virgin Islands, Bulgaria, Cayman Islands, Colombia, Croatia, Cyprus2, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hungary, Iceland, India, Ireland, Isle of Man, Italy, Jersey, Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Montserrat, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Seychelles, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Turks and Caicos Islands, United Kingdom JURISDICTIONS UNDERTAKING FIRST EXCHANGES BY 2018 (51) Andorra, Antigua and Barbuda, Aruba, Australia, Austria, Azerbaijan3, The Bahamas, Bahrain, Barbados, Belize, Brazil, Brunei Darussalam, Canada, Chile, China, Cook Islands, Costa Rica, Curacao, Dominica4, Greenland, Grenada, Hong Kong (China), Indonesia, Israel, Japan, Lebanon, Macau (China), Malaysia, Marshall Islands, Mauritius, Monaco, Nauru, New Zealand, Niue4, Pakistan3, Panama, Qatar, Russia, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, Saudi Arabia, Singapore, Sint Maarten4, Switzerland, Trinidad and Tobago4, Turkey, United Arab Emirates, Uruguay, Vanuatu JURISDICTIONS UNDERTAKING FIRST EXCHANGES BY 2019 (2) Ghana3, Kuwait5 JURISDICTIONS UNDERTAKING FIRST EXCHANGES BY 2020 (3) Nigeria3, Oman5, Peru3 JURISDICTIONS UNDERTAKING FIRST EXCHANGES BY 2021 (3) Albania3, 7, Ecuador3, Kazakhstan6 -
ICS Portugal
Integrated Country Strategy PORTUGAL FOR PUBLIC RELEASE FOR PUBLIC RELEASE Table of Contents I. Chief of Mission Priorities .......................................................................................................... 2 II. Mission Goals and Framework ................................................................................................... 5 III. Mission Objectives ..................................................................................................................... 6 IV. Management Objectives .......................................................................................................... 11 FOR PUBLIC RELEASE Approved: August 6, 2018 1 FOR PUBLIC RELEASE I. Chief of Mission Priorities As we adopt this new Integrated Country Strategy, Portugal is reaping the benefits of a hard- won economic recovery while raising its international profile. The economy has returned to growth, while rating agencies’ elevation of Portuguese debt to investment grade will cut the cost of capital to finance further economic expansion. Effective Portuguese diplomacy has enabled Lisbon to punch above its weight in EU and global affairs. Portugal’s highly professional armed forces are looking forward to gaining new capabilities and to making a greater contribution to European, African, and Asian security through more deployments as Portugal makes the investments necessary to fulfill its Wales pledge to NATO. Coupled with Portugal’s avowed Atlantic orientation, all of these factors paint a picture of opportunity for -
Italy: "Foreign Tax Policies and Economic Growth"
This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Foreign Tax Policies and Economic Growth Volume Author/Editor: NBER and The Brookings Institution Volume Publisher: NBER Volume ISBN: 0-87014-470-7 Volume URL: http://www.nber.org/books/unkn66-1 Publication Date: 1966 Chapter Title: Italy: "Foreign Tax Policies and Economic Growth" Chapter Author: Francesco Forte Chapter URL: http://www.nber.org/chapters/c1543 Chapter pages in book: (p. 165 - 206) Italy FRANCESCO FORTE UNIVERSITY OF TURIN I. POSTWAR ECONOMIC GROWTH The postwar economic growth of Italy has been remarkable com- pared with that of other industrialized countries, as well as with that of most previous periods in Italian economic history. Between 1951 and 1962, Italy's national income increased at a rate of about 6 per cent per annum in current lire, and the country's growth rate both in real and in per capita terms was almost as high. Prices were relatively stable through 1961; wholesale prices did not change, while retail prices rose only moderately. Population rose by only 6.5 per cent from 1951 to 1961, mainly as a result of a continuous re- duction in the mortality rate, owing to better sanitary conditions, to social assistance, and to an improved standard of living. This high and steady growth rate combined with reasonably sta- ble prices may suggest that the growth process has been essentially sound and that it has been supported by a good tax system and fa- vorable tax policies. This is not so. -
Double Tax Treaty Between Malta and Italy
MALTA DOUBLE TAX TREATIES Focus Business Services (Malta) Limited STRAND TOWERS Floor 2 36 The Strand Sliema, SLM 1022 P O BOX 84 MALTA T: +356 2338 1500 F: +356 2338 1111 [email protected] www.fbsmalta.com LN. 31 of 1986 INCOME TAX ACT, 1948 (ACT NO. LIV OF 1948) Double Taxation Relief, (Taxes on Income) (Republic of Italy) Order, 1986 IN exercise of the powers conferred by section 68A of the Income Tax Act, 1948, the Deputy Prime Minister and Minister of Finance and Customs has made the following order: – 1. This Order may be cited as the Double Taxation Relief (Taxes on Citation. Income) (Republic of Italy) Order, 1986. 2. It is hereby declared – Arrangements to have effect. (a) that the arrangements specified in the Agreement set out in the Schedule to this Order have been made with the Government of the Republic of Italy with a view to affording relief from double taxation in relation to the following taxes imposed by the laws of the Republic of Italy: (i) the personal income tax (l’imposta sul reddito delle persone fisiche); (ii) the corporate income tax (l’imposta sul reddito delle persone giuridiche); even if they are collected by withholding taxes at the source (hereinafter referred to as “Italian tax”); (b) that it is expedient that those arrangements should have effect. S C H E D U L E AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF MALTA AND THE GOVERNMENT OF THE REPUBLIC OF ITALY FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME AND THE PREVENTION OF FISCAL EVASION The Government of the Republic of Malta and the Government of the Republic of Italy, desiring to conclude an Agreement for the Avoidance of Double Taxation with respect to Taxes on Income and the Prevention of Fiscal Evasion, have agreed as follows: CHAPTER I Scope of the Agreement ARTICLE 1 Personal Scope This Agreement shall apply to persons who are residents of one or both of the Contracting States. -
Briefing Italian Non-Dom Tax Legislation: Recent Developments February 2019
BRIEFING ITALIAN NON - DOM TAX LEGISLATION: RECENT DEVELOPMENTS FEBRUARY 2019 ● FROM 1 JANUARY 2019, A NEW OPTIONAL TAX REGIME WILL BE APPLICABLE FOR INDIVIDUALS RECEIVING FOREIGN PENSIONS AND MOVING THEIR TAX RESIDENCE TO SOUTHERN ITALY. On 1 January 2019, the Italian Budget Law introduced a new tax regime for foreign pensioners moving to Italy. This briefing note aims to provide a brief analysis of the main tax changes introduced. The new tax regime “THE TAX REGIME APPLIES Art. No. 1, paragraph No. 273-274 of Law No. 145/2018 (i.e. the 2019 Italian FOR UP TO SIX YEARS Budget Law) introduced into D.P.R. 917/1986 (the Italian Income Tax Code or ”ITC”) FROM THE FIRST FISCAL Art. 24-ter, implementing a new optional tax regime1 applicable from 1 January 2019 for individuals: YEAR FOR WHICH THE ELECTION IS MADE.” ● receiving foreign pensions; and ● moving their tax residence from a foreign country to a municipality with no more than 20,000 inhabitants located in Southern Italy2. Under this new regime, all foreign income3 within the scope of the new regime will be taxed at a 7% flat rate in each fiscal year to which the election applies. 1 As part of the “Non-Dom” Tax regime under art. 24-bis of ITC. 2 Paragraph no. 1 of the new art. 24-ter of ITC requires the individual to move their tax residence to one of the following Italian regions: Sicily, Calabria, Sardinia, Campania, Basilicata, Abruzzo, Molise and Puglia. 3 The new regime is not limited to pension income but applies to other foreign income.