Extensions to deadlines

Extensions to deadlines for incentives and measures administered by Malta Enterprise

MicroInvest Scheme application for self-employed

• Deadline has been extended from 24 March 2020 to 30 April 2020.

Gozo Transport Grant Scheme for 2019 costs

• Deadline has been extended from 3 April 2020 to 3 June 2020.

Postponement of Payment of Certain Taxes

• A deferral from the payment of provisional tax, employee taxes, maternity fund payments and social security contributions, social security contributions of self-employed persons and value added tax.
• Companies and self-employed persons operating in specific sectors and who, as a result of the economic constraints arising from the coronavirus pandemic, suffer a significant downturn in their turnover and therefore, face substantial cash flow difficulties, may benefit from this measure.
• In order to benefit from this measure an application form shall be submitted by no later than 15 April 2020.
• Further guidance with respect to this measure as well as the application form can be found in the following link http://covid19.maltaenterprise.com.

Extensions to deadlines announced by the MFSA

Extensions applicable to capital markets

Guarantors of listed companies – Annual audited financial statements

• The MFSA will consider granting an extension for next publications which are due four months after the end of each financial year on a case-by-case basis following the submission of an official request explaining the exceptional circumstances.

Listed companies – Financial analysis summary

• An extension of two months shall be granted for next publications which are due by two months after the publication of the audited financial statements.

Extensions applicable to credit institutions

Audited annual financial statements and management letter

• The MFSA is inclined to grant an extension for next submissions due by March or April 2020 on a case-by-case basis following the submission of an official request.

Payment accounts with basic features

• An extension of two months shall be granted to all entities in scope for the completion of the Q1 submission.

Extensions applicable to financial institutions

Audited annual financial statements and management letter

• The MFSA will consider granting an extension for next submissions due by March or April on a case-by-case basis following the submission of an official request.

Extensions applicable to insurance and reinsurance undertakings

• For all supervisory reporting and public disclosure requirements under Solvency II, any extensions would only be entertained in line with direction provided by EIOPA. Further guidance in this respect should be announced in the coming days.

Extensions applicable to insurance intermediaries

Audited financial statements, management accounts and compliance statements

• An extension of two months shall be granted to all entities in scope for next submissions due by March or April 2020.

Extensions applicable to pensions

Schemes – Audited annual financial statements, management letter and auditor’s report

• An extension of two months shall be granted to all entities in scope for next submissions due by March or April 2020.

Service providers – Audited annual financial statements and interim/annual financial return

• An extension of two months shall be granted to all entities in scope for next submissions due by March or April 2020.

Extensions applicable to investment firms

Category 1-4 (excluding credit institutions) – Annual report, audited financial statements, COREP return, management letter and Circularisation Exercise Report

• The MFSA is ready to accept next submissions due by March or April up to two months from the reporting date on a case-by-case basis following the submission of an official request.

Extensions applicable to investment funds and fund managers

UCITS, UCITS ManCos, AIFs and AIFMs – Annual report, audited financial statements, interim/annual financial return, management letter and confirmations

• The MFSA is ready to accept next submissions due by March or April up to two months from the reporting date on a case-by-case basis following the submission of an official request.

Professional Investor Funds – Annual report, audited financial statements, management letter, custodian report, auditor’s confirmation and SRO declaration

• An extension of two months shall be granted to all entities in scope for next submissions due by March or April 2020.

Recognised persons (RFAs, RICCs, PCIS), de minimis AIFMs – Annual report, audited financial statements, auditor’s report, audited financial return, management letter, board confirmation and auditor’s confirmation

• An extension of two months shall be granted to all entities in scope for next submissions due by March or April 2020.

Extensions applicable to trustees and CSPs

Audited annual financial statements

• An extension of two months shall be granted to all entities in scope for next submissions due by March or April 2020.

Further guidance with respect to the above extensions to deadlines announced by the MFSA, including also additional information with respect to deadlines where the MFSA is not inclined to grant an extension, can be found in the following link https://www.mfsa.mt/publication/timing-of-regulatory-reporting-due-to-the-outbreak-of-covid-19/?ver=200

Extensions to deadlines announced by the FIAU

2020 Risk Evaluation Questionnaires (REQ)

The deadline for the submission of the 2020 REQ has been revised from 1 April 2020 to 4 May 2020 at 17:00.