Dual display is applicable to all Maltese lira denominated financial statements that are published during the period of dual display appearing in the general media. It is only necessary for dual display to be applied to key financial information, for example, at profit/loss & balance sheet  level.

All organisations submitting statutory returns or financial declarations where the financial period ends prior to €-day shall be reported in Maltese lira, where the date the returns/declarations are submitted is prior to 1st January 2009.

Where an organisation is submitting returns/declarations for a financial period ending prior to €-day, but the date submitted is on or later than 1st January 2009, the organisation can opt to report in euro or Maltese lira. Whichever reporting currency is chosen, the whole report must be specified in that currency.

Regardless of the date returns/declarations are submitted to the relevant institution, and whether Maltese lira or euro is used as the reporting currency, outstanding amounts which have to be paid (i.e. payments solely related to regulatory or administrative dues) must always be specified and paid in euro.

When submitting statutory returns in euro, the relevant euro denominated applicable statutory thresholds shall be used in the calculation of tax liabilities.

All statutory returns and financial declarations drawn up for financial periods with a year end on 1st January 2008 or later shall be reported in euro.

Table – Cross reference of reporting currency for financial returns & declarations

Financial Period          Date Submitted         Reporting Currency

2007 or earlier                Between 01/01/08-31/1208             LM

2007 or earlier                After 31st December 2008               LM or €

2007/8 straddles €-day)  Any filing date                                €

2008 and later                Any filing date                                €

1. Will the Euro Changeover require that a cash register will have to be replaced ?
2. How does the euro help reap the full benefits of the EU's single market?
3. How shall we convert Lm to Euro?