And to this that this is in his hands:

http://www.consilium.europa.eu/homepage/highlights/combating-tax-evasion-council-agrees-rules-on-automatic-exchange-of-information?lang=en

Does that mean that the EU has the right to know what the Maltese Government wants to keep under wraps?

What’s the quality of information that will be provided? and by whom?

http://www.maltatoday.com.mt/news/national/44896/president_welcomes_milestone_report_on_child_migrants_in_malta#.VD1J_926mrU

Correct, but why the supermarkets in Libya?

I only know that from an export point of view, there is no tax on imported food.

As regard to tax on profits and double taxation agreements I have no idea.

Surely there is someone qualified out there?

Not doing anything is not the opposite of doing something it is in fact an action with its own repercussions.

But wouldn’t the money from sales of food on the blackmarket, in turn, need to be laundered?

It depends on the nature of the goods being dealt with in Libya, I guess.

Wasn’t this the person who had a double hull boat smuggling diesel? That got caught?

Perhaps that caused a setback in the chain of payments?

https://scontent-a-ams.xx.fbcdn.net/hphotos-xpa1/t31.0-8/10631144_705061142911635_5957334284545690386_o.jpg

This one goes out to Andrew Borg Cardona, who thinks I’m lumping PN with MLP and being tedious. But really.

How does it work?

You smuggle a shit load of drugs into Malta by various methods.

Frozen Brazilian meat apparently being a common route.

You then flood the local market and make a tidy fortune.

Then you clean it.

You open a supermarket. Purchase a shit load of goods from local suppliers and sell them.

If your really greedy, I imagine you sell only a small percentage locally but pass all your purchases through Malta’s books.

Then you clean. All your drug money is then passed on as food sales.

No vat and zero rated.

Supermarkets work on large volumes and small mark ups. So big deal they pay 35% on very little profit.

Every industry is benchmarked. If the inland revenue see a high turnover all they are looking at is percentage.

So where is the money?

My assumption is the food that was purchased locally and not passed through the books is then sold on the black market.

This could be locally as most catering establishments do not like to pay their dues.

Or if you lucky enough to have a few supermarkets overseas put them in a container sell them there.

Malta has always supplied goods to Libya but this time someone didn’t get paid.