The Financial Action Task Force (FATF) puts Malta on its grey list for ongoing sloppy anti-money-laundering procedures and other shortcomings. FATF is the global money laundering and terrorist financing watchdog (found on FATF’s website). As a inter-governmental body, FATF sets…

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.