The Ministry of Economy, Investment and Small Business said all information on inactive businesses removed from the Malta Business Register online site is still physically stored in the building.
The ministry was reacting to a statement by PN.
The PN, in a statement, said that âthe Malta Business Registry’s decision to make inactive business information no longer accessible online runs counter to transparency and good governance, and continues to undermine reputation of the country â.
The NP statement says that in the circumstances the country finds itself in now, it is crucial that the authorities do not make decisions that make Malta appear to be a secret jurisdiction and attract people and businesses that have things to hide. While it is good for the registry to clean up the registry of those who are no longer active, this should not come at the expense of transparency and accessibility of information obligations. “
âInformation about inactive companies removed from the register serves to ensure transparency in the creation and administration of companies, and is also used for entities and business people to make informed decisions. Suppressing this information is also a major problem for journalists who play an important role in their search for the truth and in uncovering abuses. “
The ministry, in response, refuted the PN’s insinuations and said that “all information remains physically stored in the MBR building and anyone can request information about the company, either as a physical document or by mail. electronic. The insinuations of the Nationalist Party are totally false.
âIn the case of active companies, the contact details of the people associated with them are clearly published on the website. Moneyval requires that inactive companies be removed from the registry. However, before the deletion, the MBR carries out all the checks and controls and, in the event of suspicion of abnormal activity, the case is transmitted to the FIAU as soon as possible. Even when a company is removed from the register, all the necessary monitoring is carried out by the competent institutions, âthe ministry statement said. .
âThe relevant authorities, such as the police, the tax commissioner, the MGA and the MFSA have continuous access to the website in order to carry out all the necessary checks. It is clear that the intention of the Nationalist Party’s statement is to cause harm. Its authors are well aware that they are not telling the truth; they are deliberately misleading. “
“This deplorable attack is another example of how the opposition is working to permanently harm the country. Its timing, at such a delicate time, is designed to endanger the economy and 12,000 jobs in the sector. financial services. If it is a fact that the current Leader of the Opposition is ashamed to say that he is Maltese, such a position does not give him the prerogative to harm the country. unprecedented reforms. They have won the approval of several impartial institutions. Since all MBR operations previously fell under the purview of the MFSA, the very fact that it operates today as an autonomous agency bears witness to the decisions bold steps taken by this government, âthe ministry said.
“As a government, we will continue our program to further strengthen the relevant institutions, in line with Moneyval’s recommendations, while continuing to ensure that the country’s finances are used in the best possible way to provide the necessary assistance to people. Maltese and Gozitan families at a time when they need it most.For this government, strengthening institutions and practicing transparency in their operations is not just rhetoric, but a reality.