Malta has reached an agreement with the European Commission that will effectively preserve intact its competitive imputation tax system for business in Malta. The proposal was submitted by the Maltese Government and ensures that the tax system will not be discriminatory for EU State aid purposes. The Government will be publishing the relevant legislation in the coming months once the Tax Reform Commission has concluded its work. The importance of the agreement comes from its assurance for the ability for Malta to continue to provide an attractive and competitive environment for international business and investment.