Accounting

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CSB Group is an expert in Accounting, Payroll, VAT, Tax Compliance and Advisory and provides a full range of accountancy-related services to corporate and private clients. Our team of certified public accountants in Malta can assist with key accounting services ensuring compliance with Local Statutory reporting requirements.

Accounting Services in Malta

CSB Group is one of the leading tax and accounting firms in Malta. As corporate accounting specialists in Malta and Independent members of EuraAudit International, our accountants offer professional outsourced accounting services in Malta.

Our accountants are highly professional and offer tailor-made accounting services in Malta depending on the nature and size of the business. Various services fall within the remit of accountancy – Here at CSB Group, having a team of over 14 accountants and accounts personnel, we boast in being able to furnish over 400 clients with bookkeeping and updated management accounts and any other related services including ad hoc advice / service clients require.

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Services offered by our team but not limited to:

Bookkeeping & Management reporting

This service is the fulcrum as the other services ultimately depend on it. It is one of CSB’s main aims to ensure that the bookkeeping and the management accounts are kept up to date. This is done so that clients’ requirements are always met and so that these management accounts accurately reflect the position & performance of the company.

All key staff are certified by the Institute of Financial Services Practitioners in the Law and Management of Trusts. They take a pro-active and personalised approach towards guiding clients through all trust-related issues.

These include estate planning, transaction-related security trust structures, asset protection and other customised solutions based on client requirements.

VAT Services

VAT is an area which is continually changing so outsourcing to CSB’s indirect tax team gives you the advantage that you don’t need to be kept abreast at all times but can trust this in the hands of the experts

This area is vast and includes assistance with the below, amongst others:

  • VAT Registrations
  • Preparation, completion & submissions of VAT Returns
  • Preparation, completion & submissions of VAT Recapitulative Statements
  • Preparation, completion & submissions of MOSS returns
  • Preparation, completion & submissions of VAT Adjustment Forms (if necessary)

Audit Co-ordination & Audited financial statements

For each accounting period, every company director shall prepare individual accounts comprising the balance sheet as at the last day of the accounting period to which they refer, the profit and loss account for that period, the notes to the accounts and any other statements which may be required.

The audit of financial statements is to be carried out by a qualified person holding the relevant warrant issued by the Maltese Accountancy Board and needs to be performed in accordance with International Auditing Standards.

Corporate Tax Returns

Every company registered in Malta is also required to prepare and file an Income Tax Return with the International Tax Unit (ITU) / Inland Revenue Department (IRD). At CSB Group, our tax team assist in the completion & submission of the tax returns on behalf of clients.

Companies with a January to June accounting year-end are required to file their tax return by the 31st of March of the following year. Companies with different accounting year-ends must file their income tax returns within 9 months from the accounting year-end. Payment of any corporate tax payable must also be made by this date, unless company is eligible to the DDT 10 exemption, in which case payment could be deferred by a further 9 months.

In the case of late filing of tax returns, penalties will be incurred dependent on the number of months elapsed, as follows:

  • Within 6 months € 50
  • Later than 6 but within 12 months € 200
  • Later than 12 but within 18 months € 400
  • Later than 18 but within 24 months € 600
  • Later than 24 but within 36 months € 800
  • Later than 36 but within 48 months € 1,000
  • Later than 48 but within 60 months € 1,200