As part of the EU Structural Funds 2007-2013 for Malta, the European Regional Development Fund has financed a grant of €10 million towards the Grant Scheme for Sustainable Projects by Enterprises.
The scheme directs funding towards achieving Sustainable Tourism Development. Tourism development is sustainable through the principles of: Environment Sustainability, which ensures that development is compatible with and respects biological diversity and natural resources; Social and Cultural Sustainability which ensures contribution towards the development and protection of the cultural identity; and Economic Sustainability that ensures the development of the society in conditions of adequate management of resources by obtaining economic benefits today, as well as in the future.
The Commission proposes a revised Code of Conduct for applying the Arbitration Convention to improve prevention of double taxation.
The Commission adopted on 14th September, a Communication based on the work achieved by the EU Joint Transfer Pricing Forum. The Commission and the Forum consider that the elimination of double taxation linked to transfer pricing adjustments is facilitated by constant monitoring of problems occurring in practice.
The Commission adopted on 29th September, a Directive for an optional and temporary application of the reverse charge mechanism to supplies of certain goods and services, aiming to fight carousel fraud in a consistent manner across the European Union.
Carousel fraud is traditionally organised with small goods of high value. Recently, several Member States reported cases of carousel fraud on greenhouse gas emission allowances.
The Commission adopted on 4th September, a report on the use of the provisions on mutual assistance for recovery of claims relating to certain levies, duties, taxes and other measures between 2005 and 2008.
The European Commission has launched a debate on a revision of the current Energy Taxation Directive (2003/96/EC of 27 October 2003), which aim:
To introduce a second pillar of energy taxation based on CO2 emission next to the existing taxation of energy consumption (other types of energy taxation the new CO2 taxation should cover the same energy products, which fall under the scope of Directive 2003/87/EC (Emission Trading scheme - ETS), but must exempt all cases, which are subject to the ETS: The CO2 taxation should be complementary to the ETS and the CO2 tax should be paid by all energy users, which are not covered by the Emission Trading Scheme. This mean it will mainly cover the agriculture and transport sector.