Dear Members,

On Monday July 13th 2020, CIFA attended a meeting with Minister Martina.

The main purpose of the meeting was to explain to the Minister the opportunities that we see within the financial sector and also what is needed in order to achieve it.

We presented him with a short summary of our roadmap in which we discussed CIFA’s strategic goals. Our roadmap was presented to our members during the general member’s meeting held on May 26th 2020.

Please find attached the one-pager that was presented to the minister with the most important topics to be discussed and worked on.

Topics were:

1. Tax;
2. Regulations & Permits;
3. Deviezenregeling;
4. Marketing & Data Collection;
5. Product Development;
6. Quality Improvement.

It is a fact that some of our most important topics discussed in our roadmap are very dependent on the government. For example tax, permits, law and regulation.

For this reason it is very important to maintain a good collaboration with the public sector.

The meeting went very well and it was agreed that we will meet regularly in order to keep focus on the points discussed and also to offer our help where needed.

Some of these subjects fall within the purview of other ministries, outside of the responsibility of the Ministry of Economic Development (“MEO”). But as they are still important to him from an broader economic development perspective, Minister Martina has proposed to hold follow-up meetings together with other ministries as well.

The first such follow-up meeting will be with the Ministry of Finance.

Besides these meetings CIFA will continue to have the tax committee meetings with the fiscal affairs department (SFZ) every two weeks working together on amongst others topics such as substance, guidelines and amendment profit tax, double taxation prevention decision, BRNC, etc.

We will continue to keep you informed about any developments regarding these regular meetings.

Please note that we are working on an information session for our members regarding substance.

Kind regards,
CIFA