Nexia BT has been offering audit-related services since its inception in 1992 and today ranks as a leading professional services firm employing over 20 professionals within its Audit and Assurance department. Nexia BT has now established itself as one of the five top audit companies in Malta and the largest mid-tier firm, among those servicing listed entities. This achievement has etched Nexia BT’s position in the marketplace.

The auditing arm is headed by Manuel Castagna, who has over twenty years’ experience, having worked in the industry both with audit firms in Malta and abroad. Manuel is the firm’s main audit partner, and is also its compliance officer, thereby being responsible for Nexia BT’s quality assurance and risk management. Brian Tonna, who is the firm’s managing partner, is also an audit partner within Nexia BT. They are assisted by director Darren Bugeja.

The firm’s portfolio comprises a wide range of audit clients varying from sole traders to family businesses, small and medium-sized companies and large groups of companies as well as listed and regulated companies. Current audit clients feature both locally as well as internationally based customers. The wide and diverse sectors in which they operate include wholesale and retail, manufacturing, service providers, construction and property, hospitality and catering, holding and investment companies, investment advisors, professional’s and Governmental authorities and entities. Meanwhile, Nexia BT’s international audit clients include those with an interest in investment funds together with specialized sectors such as aviation and ship and yacht registration in Malta. Nexia BT’s audit and assurance related services include:

Statutory audits

Required for regulatory, legal, or other purposes

Audit of liquidations

Carried out from the date when a company is put in dissolution until the date when the scheme of distribution is drawn up.

Assurance engagements and reviews

‘Lesser audits’ still providing a degree of assurance provider by the reviewer.

Due diligence reviews

Normally carried out for the purpose of confirming accounts provided to a buyer prior to a transfer of ownership.

Ad-hoc investigations

Consisting of specific investigations, rather than periodic reviews. In the case of an impromptu event, an entity can call a company to determine what is not working properly in the company and what can be improved.

Internal audits

Concerning the examination, monitoring, and analysis of activities related to a company's operation, including its structure, employee behavior, and information system. Such audits are designed to review the company’s activities in order to identify potential threats to the organization's health and profitability, as well as to make suggestions for mitigating the risk associated with those threats in order to minimize costs.

Certification of government / EU / UN projects

Involves the audits or reviews of project expenditure.

Consolidations

Concerns the preparation and/or audit of group consolidated accounts and financial statements.

Assistance in IFRS reporting

Provides for a set of accounting standards, which are developed and maintained by the IASB (International Accounting Standards Board) in order to ensure standards are applied on a global scale.

The audit-related services, normally provided on statutory audit assignments, are the following:

• Auditing of the accounts, in accordance with International Standards on Auditing (ISA); and
• Assistance in compilation/review of the full set of Financial Statements, in line with International Financial Reporting Standards (IFRS) as adopted by the EU or in compliance with GAPSME (and of Abridged Accounts, where required), in harmonization with the Companies Act;

All professionals within Nexia BT follow a risk-based audit approach, in all of the audit services which are carried out.

Nexia BT Consulting Limited is the back office and consulting arm of Nexia BT Group that provides a wide range of business support functions e.g. consulting, bookkeeping, payroll, and financial support services to both corporate entities and individuals. 

This one-stop shop and personalized service department draws on the collective experience of its 25 professional team members, garnered over many years, and spread across a wide range of business sectors.

Brian Tonna, the managing partner within Nexia BT Group, leads this department and is assisted by senior manager, Reno Zammit and managers Robert Magri and Ryan Montebello.

Nexia BT Consulting services include, but are not limited to:

Accountancy services

• Bookkeeping for both local and international clients
• Secretarial matters
• Internal financial reporting
• Assistance in procuring finance
• Assistance in opening bank accounts
• Restructuring and corporate management
• Dissolution of companies
• Due diligence
• Mergers and acquisitions
• Assistance in tax litigation
• Succession duty planning

Payroll and compliance services

• Comprehensive periodical payroll services
• Assistance in employment-related litigation
• Personal tax returns and National Insurance returns
• Filing of corporate and personal provisional tax forms
• Employment contracts
• Application for ETC Schemes
• Application for work permits
• Pension applications and advice
• Applications for Children’s allowance benefits

Headed by Nexia BT partner Karl Cini and assisted by the senior manager Antoinette Scerri, the Tax Advisory department at
Nexia BT provides a wide range of tax compliance and tax advisory services on a corporate and/or personal level to both local as well as international clients. Benefitting from a team of professionals with several years of combined experience in the field of taxation resources, the department is optimally positioned to service the needs of any size of business set-up.

In keeping abreast of fiscal developments and updated with new income tax legislation and tax incentive legislation, the Tax Advisory department ensures that it develops the best ideas and strategies in order to maximize on the resultant scenarios to optimize the tax positions of its clients whilst meeting legal and compliance obligations.

The Taxation Department offers the following services:

The compliance aspect

• Review of income tax computations;
• Preparation and submission of corporate income tax return documentation;
• Preparation and submission of claims for tax refund;        
• Transfers of company shares;
• Attainment of tax and duty exemptions where applicable;
• Registration of foreign shareholders for refund purposes;
• Application for tax refund due to foreign shareholders; and
• Application for first-year tax exemptions.                                                

The advisory aspect

• Tax restructuring exercises;
• Tax planning exercises for groups of companies;
• Personal and corporate tax advisory services;
• Applications for tax rulings and tax interpretations from the authority;
• VAT planning; and
• Application for VAT rulings on particular transactions.

Nexia BT Business Advisory Services Limited is the specialist advisory arm of the firm providing tailor made solutions to meet customers’ specific requirements. This section falls under the direction of the firm’s advisory partner, Anita Aloisio who leads a team of over 20 professionals.

The Advisory arm at Nexia BT strives to offer its services to forward-looking enterprises who are seeking specialist advice to help consolidate their position in the market or to help them underpin future expansion opportunities. The team’s considerable knowledge and expertise in financial and operational management will ensure that changes are based on a sound financial and operational structure. 

The department’s main areas of specialization are the following:

Corporate Finance Services

Our corporate finance team assists clients in identifying projects which add value and increase wealth. We conduct a thorough evaluation of the impact of internal and external factors, including changing trends in both the short and long-term, mapping out new growth strategies and portfolio mix options.

Malta continues to offer an array of potential advantages to those wishing to relocate to Malta or base their operations here. Our team works closely with such clients to create integrated solutions across all their related financial and business affairs. From group holding companies, funds, finance companies to trusts, foundations, permanent residence schemes and the Malta Citizenship by Investment programme, Malta has been providing international clientele with a strong, reliable and efficient base of operations for a number of years.

An advantageous tax regime and competitive cost of living being some of the benefits offered to individual seeking to acquire residence on the island. Malta is an ideal place to take up residence. Malta's pleasant climate, safe environment and hospitable English-speaking population are among many other assets of the island. More than 20,000 foreigners have decided to live in Malta and the expat community is growing every year.

With our network of local contacts and experience in the field, we can help you relocate to Malta. We have successfully represented individuals and families, ranging from expatriate retirees to High Net Worth individuals from every part of the world. We provide advice on the legal and tax rules and implications of taking up ordinary residency in Malta. Our services cover the rules applicable to a number of available residence schemes.

The Malta Citizenship by Investment Programme

Karl Cini, partner at Nexia BT, is an Accredited Person/Agent under the Regulations for the Individual Investor Programme (IIP) with Agent number IIP-003. Karl and his team can assist in the completion of the requested documents needed and for the submission of the application when liaising with Identity Malta.

The IIP aims to attract the right investors to come to Malta, bringing their expertise and experience, creating new opportunities and making a positive economic contribution to the country. This Programme was launched by the Government in 2014 and is capped at 1,800 applications.