The Malta Business Registry (MBR) has issued a statement advising all companies that as from 1st November, companies are to submit their annual accounts only through its Business Automation Registry Online System (BAROS).

This change aims to enhance MBR’s service delivery, reduce processing times, and provide a more environmentally friendly approach. It aligns with the registry’s mission “to understand and address the needs of the industry and practitioners, following consultations with stakeholders affected by the transition.”

The platform was made available on 31st August 2023, to ensure a smooth transition from the previous to the new system. While it was launched in March 2024, in May MBR CEO Geraldine Spiteri Lucas was adamant that the new system would not go fully online until practitioners were comfortable with the system.

Now, Dr Spiteri Lucas said that since the introduction of BAROS, practitioners have embraced new digital practices.

“The ability to submit company annual accounts online is one of the most anticipated measures requested by the industry, and MBR has delivered on this demand,” she added.

Dr Spiteri Lucas highlighted that the annual accounts online filing is part and parcel of businesses’ legal obligations that they must adhere to.

“This new initiative shall ease the work of practitioners and directors who must ensure that documents are submitted in a timely manner, save time and money for companies and get access to digital solutions to enhance clients’ experience and services,” she continued.

The MBR will be delivering a training session to all Auditors and Accountants at the end of October, with further details to be announced soon.

Detailed instructions and support resources can be found here and for assistance, businesses can email on: [email protected].