TConsult is delighted to announce that we have been invited to present a training course for the Malta Stock Exchange.

We will be delivering a two hour presentation discussing the benefits of being a US qualified intermediary. The course is open to representatives from Maltese financial institutions and will take place at 9.00am on January 21st 2019.

Most Maltese financial institutions have some exposure to the US capital markets, whether directly or indirectly. Any Maltese financial institution that receives US sourced income on behalf of its clients is directly subject US Internal Revenue Code Chapter 3, also known as the QI regulations.

QI regulations dictate how clients must be documented, how US sourced income must be taxed and reported depending on the status of the firm as either a qualified intermediary (QI) or non-qualified intermediary (NQI). The US government assumes that non-qualified intermediaries are facilitators of tax evasion.

Across the world, and including Malta, there is increasing pressure for NQIs to convert to QI status in order to be able to maintain access to the US markets. QI status brings many benefits but also includes compliance obligations for which financial firms should be prepared.

This short course seeks to give an explanation of the main differences between NQI and QI status, the benefits of being a QI and the practical issues QIs need to handle. Following this course it is expected that participants will be able to make an informed decision about the benefits and impact of applying to become a QI for their business.

To book a place visit https://www.borzamalta.com.mt/events.

Image by Juan Antonio Segal