Malta Removal of Exchange Control Restrictions - Dr J.P.Chetcuti, Tax Consultant, Malta

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B.A., LL.M.(Int'l.Econ.Law), LL.D., ACIArb


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Removal of Exchange Control Restrictions

Aim: To increase the amount Maltese citizens can send or invest abroad in foreign currency; to provide greater flexibility for local trade to operate in foreign exchange.

Measure: Liberalisation of exchange control - removal in stages of the major part of the remaining controls.

Repeal of Exchange Control Act;
Proposal of Exchange Transactions Act: provide necessary infrastructure for full liberalisation, give Minister of Finance authority to introduce measures & controls in times that would be critical for the balance of payments.

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