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Preparation of Annual Financial Statements in Malta

Preparation of Annual Financial Statements in Malta

Companies in Malta must submit the annual financial report which should represent the accurate financial status of the business for each year of performed activities, in complete accordance with the IFRS (International Financial Reporting Standards). In this matter, an accounting firm in Malta can offer the complete and necessary support. Our company formation specialists in Malta can help entrepreneurs establish their companies in the country and can also provide support for the annual preparation of the financial reports.

What kind of companies must prepare the annual financial statements in Malta?

Limited liability companies, partnerships limited by shares, joint stock companies are among types of entities in Malta which must report the annual financial statements with the authorities in charge. This is a procedure that provides accurate information about the status of a company from a financial point of view. The annual financial report in Malta can be offered to the authorities if an audit has been performed in a company. The auditors in Malta can reveal a fair and reliable interpretation of the company’s activities before preparing the annual financial statements.

For a better understanding of how companies should align with the requirements of IFRS when preparing the annual financial statements, you should address to a team of advisors, a matter where our agents in company formation in Malta can offer support and guidance. We remind that the company registration in Malta can be an easy and a fast process with the help of our advisors.

Why are the annual financial statements in Malta important?

Companies in Malta can register profits but also loses. Additionally, they are entitled to pay the tax obligations in accordance with the taxation system in Malta which regards each type of company. Having several audits in a company before submitting the annual financial declarations, will prove not only necessary but also the proper way of reporting the incomes, the obligations, the payments which are part of the overall activities of a firm. Accurate information about the financial status of a company will lead to a correct financial statement which must be provided to the authorities at the end of the financial year.

If you want to know more details about how companies should prepare the annual financial statements in Malta, we invite you to contact our Maltese company incorporation representatives.