PwC's Short Reads - September 2025 Edition
1. PwC Malta supports Din l-Art Ħelwa's heritage preservation efforts
PwC Malta is proud to announce its support for Din l-Art Ħelwa, the National Trust of Malta, to support its mission to safeguard Malta's historic, artistic and natural heritage. Din l-Art Ħelwa, founded in 1965, is a non-governmental, not-for-profit, voluntary organisation dedicated to the preservation and protection of Malta's cultural and natural heritage.
2. MFSA launches a consultation document on Chapter 1 of the Financial Institutions Rulebook
As part of its continued efforts to improve the regulatory framework applicable to financial institutions, the Malta Financial Services Authority (‘MFSA’) has recently published a consultation document inviting licence holders and other stakeholders to provide their feedback to an updated version of Chapter 1 of the Financial Institutions Rulebook (‘FIR/01’).
3. Malta sets the standard: ESMA peer review highlights strong CASP supervision
The recent publication of the European Securities and Markets Authority (“ESMA”) Peer Review on the authorisation and supervision of Crypto-Asset Service Providers (“CASPs”) confirms Malta’s place as a leading jurisdiction in this space. The review highlights the Malta Financial Services Authority’s (the “MFSA”) strengths in this area, noting that the jurisdiction is fully meeting expectations in terms of supervisory settings and resources.
4. Act XVII of 2025: Main changes to the Maltese Companies Act explained
The recently enacted Act XVIII of 2025 introduces a series of targeted amendments to the Maltese Companies Act, 1995 (Chapter 386 of the Laws of Malta), aimed at modernising corporate processes, reducing unnecessary administrative burdens, and addressing long-standing ambiguities in Maltese company law.
5. The interplay between Transfer Pricing and VAT: Evolving challenges and key developments
The relationship between Transfer Pricing (TP) and Value Added Tax (VAT) has become a focal point for multinational enterprises operating within the European Union. While transfer pricing (TP) primarily addresses the pricing of cross-border transactions between related parties for direct tax purposes, value added tax (VAT) applies to both cross-border and domestic supplies of goods and services.
6. Understanding revenue recognition in the gaming industry: A comparative look at B2B and B2C models
In this edition, we explore the key business models propelling the fast-paced gaming sector: B2B and B2C. Each model presents unique complexities, especially in the recognition and measurement of income generated by entities within these frameworks, allowing you to better understand and strategise for success.
7. Transforming ERP solutions with AI: Unlocking the next phase of operational intelligence
ERP solutions have long been the backbone of business operations, powering functions from finance and supply chain to procurement and compliance. As technology continues to evolve, so does the role of these systems. With the integration of AI, ERP solutions are entering a new phase, one defined by intelligence, agility, and strategic enablement.
8. Are company announcements missing the mark? Key insights from the MFSA
In one of its most recent Dear CEO Letters dated 9 July 2025, the Malta Financial Services Authority (MFSA) shared findings from its 2024 thematic review of company announcements made by entities listed on the Official List of the Malta Stock Exchange. The review was carried out during 2024 and was aimed at evaluating how effectively these company announcements met Capital Markets Rules (CMRs) requirements, with particular focus on timeliness, clarity, format and completeness.
9. From oversight to opportunity: Regulatory update on third-party risk management under DORA
The Digital Operational Resilience Act (DORA), which has been in effect since 17 January this year, is already reshaping how financial entities manage their ICT third-party risks. In this article, PwC Malta’s Privacy & Data team explores the newly adopted Regulatory Technical Standards (RTS) on Subcontracting issued under DORA, a core component of the regulation’s fourth pillar.
10. Strategically navigating Malta’s new labour migration policy measures
In July 2025, several new measures were introduced under Malta’s updated labour migration policy. These measures may significantly impact on how you, as an employer, plan for and engage with third country nationals (TCNs). The stakes are high; a wrong move may lead to permit refusals, substantial hiring delays, and even penalties – any of which could substantially disrupt your operations and potentially hurt your business.
11. Sustainability remains important amid shifts in EU ESG reporting policies
The European Union's Omnibus package is making significant changes to sustainability reporting rules, particularly to the Corporate Sustainability Reporting Directive (CSRD). The CSRD had been in the works for several years, and several companies that believed they were out of scope, had been preparing diligently towards ensuring they would be compliant once the directive comes into force.
12. Leading the future: Harnessing data and digital transformation for a smarter tomorrow
In today’s digital era, data has become the lifeblood of financial services innovation. At PwC, we understand that effective data management is critical for businesses to evolve, seize new opportunities, and enhance performance through enterprise AI. In fact, data is increasingly seen as a strategic asset that drives better business execution. It is imperative for every forward-thinking business to leverage data, enabling proactive market engagement.
13. EU Reaches unified stance on reforming customs code
On 27 June 2025, the Council of the European Union adopted its negotiating mandate for the revised Union Customs Code (UCC), moving forward with major reforms to modernise EU customs procedures. These reforms are designed to address the increase in e-commerce and recent geopolitical changes, focusing on improving customs oversight, protecting the Single Market, and fostering Member State cooperation.
14. A day in the life: exploring the human side of digital accessibility
Imagine starting your workday unable to distinguish colours in a task list, hear a training video, or read a cluttered report—this is the daily reality for many people with disabilities or neurodivergence. These challenges highlight the urgent need for digital accessibility, especially in the workplace. By making small changes like adding captions, using alt text, and designing with clarity, we can create a more inclusive digital world for everyone.
15. IFRS 18 is here: Redefining financial performance reporting
In April 2024, the IASB issued IFRS 18, ‘Presentation and Disclosure in Financial Statements’ in response to investors’ concerns about comparability and transparency of entities’ performance reporting. The new presentation requirements introduced in IFRS 18 aim to increase comparability of the financial performance of similar entities, especially related to how ‘operating profit or loss’ is defined.
16. KSU’s 125th Anniversary: Advancing student activism through alliance with PwC Malta
KSU’s 125th anniversary marks a legacy of student activism, strengthened by a five-year partnership with PwC Malta. Together, they’ve created impactful initiatives—from Freshers’ Week and the Common Room to career expos—that support student well-being, engagement, and future readiness. This collaboration reflects a shared commitment to empowering students to drive social change and shape tomorrow’s solutions.