Emergency Measures

COVID-19: Emergency Measures in Malta | Update 15

Contents

1. International News

  1. European roadmap shows path towards common lifting of containment measures

2. Administrative Notices

  1. Bank of Valletta accredited by the Malta Development Bank for the COVID-19 Guarantee Scheme
  2. MFSA Notification about Interim Measures for the Processing of Physical Documentation
  3. Customs Department: Two months deferral of Excise Duty payments

1. International News

1.1 European roadmap shows path towards common lifting of containment measures

On 15th April 2020 the European Commission put forward a European roadmap to phase-out the containment measures due to the COVID-19 outbreak. While recognising the specificities of each country, the European roadmap establishes the following key principles:

  • Timing is essential: decisions to start easing containment measures should be based on three criteria. First, the spread of the disease must have significantly decreased and stabilised for a sustained period. Second, there must be sufficient health system capacity to attend to future cases and third, appropriate monitoring capacity to quickly detect and isolate infected cases;
  • A coordinated European approach in lifting containment measures, whilst acknowledging that this will involve balancing public health benefits with social and economic impacts; and
  • Phasing-out confinement requires accompanying measures, including gathering harmonized data and developing a robust system of reporting and contract trading, expanding testing capacity and harmonizing testing methodologies, increasing the capacity and resilience of national health care systems, continuing to reinforce medical and personal protective equipment capacities and developing safe and effective treatments and medicines.

The Commission’s roadmap lists concrete recommendations for Member States planning to lift containment measures:

  • Actions should be gradual;
  • General measures should progressively be replaced by targeted ones;
  • Internal border controls should be lifted in a coordinated manner;
  • The re-start of economic activity should be phased-in;
  • Gatherings of people should be progressively permitted;
  • Efforts to prevent the spread of the virus should be sustained; and
  • Action should be continuously monitored.

Source: https://ec.europa.eu/commission/presscorner/detail/en/ip_20_652

2. Administrative Notices

2.1 Bank of Valletta accredited by the Malta Development Bank for the COVID-19 Guarantee Scheme

Bank of Valletta has been accredited by MDB to offer facilities under the COVID-19 Guarantee Scheme. Further banks are expected to be accredited shortly.

MDB will be uploading a FAQ section to provide more information and clarification on the CGS.

Source: https://mdb.org.mt/en/Schemes-and-Projects/Pages/MDB-Working-Capital-Guarantee-Scheme.aspx

2.2 MFSA Notification about Interim Measures for the Processing of Physical Documentation

The MFSA has announced that, with immediate effect, for an interim period and until otherwise communicated, all documentation to be submitted to the MFSA should be sent electronically. Any authorisation and supervisory correspondence should be submitted to the MFSA in e-mail format or through the relevant MFSA online portals, where applicable. Documentation that is ordinarily requested in original physical format, should be submitted electronically through the mediums specified above in scanned format. In the case of Personal Questionnaires (PQs) involving foreign individuals, a scanned copy of the passport, which is not certified, will suffice. Regulatory submissions, such as audited financial statements, can be submitted with an email by the Chairman of the Board.

Original signed documents, certified true copies and any other documentation that is ordinarily submitted to the Authority in physical format will be expected to be submitted retrospectively at a future date, as and when communicated by the MFSA.

Source: https://www.mfsa.mt/wp-content/uploads/2020/04/Updated-Notification-about-Interim-Measures-for-the-Processing-of-Physical-Documentation.pdf

2.3 Customs Department: Two months deferral of Excise Duty payments

The Customs Department is proposing a deferment of certain excise duty payments. Thus, payments which are due on the 15th of April 2020, will be deferred to the 15th of June 2020 and payments due on the 26th of April 2020, will be deferred to the 28 of June 2020, while payments which are due on the 15th of May 2020, will be deferred to the 15th of July 2020 and payments due on the 31st of May 2020, will be deferred to the 26th of July 2020.

The economic operators will be relieved through this measure of being allowed to postpone their payments by two whole months, that is, from April 2020 to June 2020, and from May 2020 to July 2020.  

Source: https://customs.gov.mt/newsresult/2020/04/14/notice-to-all-tax-warehouse-keepers-subsidiary-legislation-s.l.-two-months-deferral-of-excise-duty-payments

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