Accounting and accounting rules in Malta

Accounting Rules

Tax Year

The financial year starts on 1st January and ends on 31st December of the same year.

Accounting Standards

The account reports need to conform to the norms decreed by the IAS (International Accounting Standards).

Accounting Regulation Bodies

Malta Institute of Accountants

Accounting Reports

The annual accounts should give a clear view of the company's assets, liabilities, financial position and profits or losses. It must comprise: the balance sheet, the profit and loss account, and the notes to the accounts.

Publication Requirements

According to the Companies Act of 1995, all Maltese companies are required to submit their account reports annually, showing correct and honest picture of the volume of the business done along with the justification of the various transactions performed.

Professional Accountancy Bodies

Accountancy Board

Certification and Auditing

The Maltese companies need to appoint one or more than one external auditors for validating the annual account statements which are presented during their annual general meetings. An auditor has to be competent enough to conduct such audits and should confirm to the requirements as given in the Chapter IX of the companies act (Companies Act of 1995). You can contact an external auditor: KPMG, Ernst & Young, PricewaterhouseCoopers and Deloitte.

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