It is Guernsey’s third extensive Double Taxation Agreement (DTA) – the other two being with the UK and Jersey – and the first to be based on the OECD model convention.
The latest agreement was signed by Guernsey’s Chief Minister, Lyndon Trott and Malta’s High Commissioner to the UK, Joseph Zammit Tabona.
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Rob Gray, Guernsey’s Director of Income Tax, who leads negotiations on tax agreements, said: "This DTA strengthens Guernsey’s relationship, politically and economically, with an EU Member State and demonstrates our determination to continue to meet the highest international standards."
Guernsey also signed a Tax Information Exchange Agreement (TIEA) with Turkey at the Turkish Embassy in London. This is Guernsey’s 35th TIEA in all and the 14th that the Island has signed with a G-20 state.
Gray added: "The agreements with Malta and Turkey highlight Guernsey’s ongoing commitment to working with the OECD on tax transparency. This commitment is reflected in Guernsey’s leading role in the Global Forum, which is the body responsible for monitoring and assessing compliance with international standards in transparency and exchange of information for tax matters."
Guernsey is expected to sign further DTAs with Qatar, Bahrain, Singapore, Hong Kong, Jersey (revised) and the Isle of Man in the coming months.
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