Prada’s Pattern Mark: A fight for Trademark Recognition

A recent decision notably pronounced by the Second Board of Appeal on December 19, 2023, concerned PRADA S.A.’s pattern mark (case R 827/2023-2). Prior to this appeal, the examiner in European Union trademark application No. 18 683 223 initially rejected the disputed pattern trademark due to the observation of a lack of distinctiveness, prompting PRADA…

Survey on the EU Sustainability Disclosure and Reporting Regime

MFSA has today issued a survey with the aim of gauging stakeholders’ level of understanding and preparedness with regards to sustainable finance disclosure and reporting obligations, as well as challenges associated therewith. MFSA is inviting the following stakeholders to participate in such survey by Wednesday 28th February 2024:  Completion of the survey is on an…

Tax Commissioner allows accelerated deductions in respect of intellectual property and intellectual property rights

The Commissioner for Tax and Customs in Malta issued a notification, ushering in changes to the rules relating to deductions in respect intellectual property (IP) and intellectual property rights (IPRs). The key modification introduced by this notification involves an acceleration in the timing of deductions for capital expenditures on IP or IPRs and is effective…

Guidelines on reduced 12% VAT Rate on yacht charters commencing in Malta

In terms of Legal Notice 231 of 2023, which amended the Eighth Schedule of the Maltese VAT Act (Cap 406 of the Laws of Malta), a reduced VAT rate of 12% shall apply to the yacht charters commencing in Malta. On 29th January 2024, the Malta Tax and Customs Administration issued guidelines for the application…

MFSA issues an updated Corporate Governance Manual for Funds

On the 30th October 2023, the Malta Financial Services Authority (‘MFSA’) issued an updated version of the ‘Corporate Governance Manual for Directors of Collective Investment Schemes’. The Manual is complementary to the new ‘Corporate Governance Code’ published by the MFSA in August 2022, and focuses on the principles that should be followed by directors of…

Reduced VAT rate for short-term yacht charters

The yachting industry in Malta is an ever-growing sector. At present, there are over 1,000 yachts above 24 metres in length registered under the Malta flag. Several yachting companies have opted to establish themselves in Malta due to the various benefits that may be enjoyed as well as the facilities available on the island. As…

MFSA Announces Consultation on Changes to Chapter 3 of the Virtual Financial Assets Rulebook

The Malta Financial Services Authority (‘MFSA’) has, on the 18 September 2023, issued a draft version of the updated Chapter 3 of the Virtual Financial Assets Rulebook for consultation (the ‘Consultation Document’). The Consultation Document aims to align the VFA Framework following the entry into force of the Markets in Crypto- Assets Regulation (‘MiCAR’) in…

Malta Enterprise Announces Financial Assistance for ESG Reporting

The Minister for the Environment together with the Malta Enterprise CEO have announced a new ESG Grant intended to help support small and medium sized businesses (SMEs) in enhancing their sustainability and further push them to be more environmentally conscious. The Grant aims at providing financial assistance to an extensive list of businesses which will…

Landmark Judgement: DF Advocates successfully assists client with obtaining recognition of names assumed after contracting marriage in a foreign jurisdiction – the court orders the public registry to update its records and procedures.

L-Avukat Dr. Marlon Borg bħala mandatarju speċjali tal-assenti Michael Debono Mrden vs. Direttur tar-Reġistru Pubbliku (452/21/1 JVC) Court of Appeal (Superior Jurisdiction) 12th July 2023 Overview On the 12th of July 2023, the Court of Appeal in its Superior Jurisdiction (“COA”) overturned a judgment delivered from the First Hall Civil Court (“FHCC”) whereby the COA…

FIAU publishes its 2023-2024 AML/CFT Supervisory Plan

On the 25th July 2023, the FIAU published its supervisory priorities for the year 2023-2024. In determining the said plan, the FIAU has adopted a risk-based approached which was based on the information submitted annually by subject persons through the submission of an “Annual Risk Evaluation Questionnaire” along with data obtained from other sources such…