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According to a report published by Reuters, the cryptocurrency exchange Binance has not paid any taxes during its stay in Malta. Despite handling billions of euros during its time on the island, Binance's main company in Malta consistently reported losses, allowing it to evade tax payments. 

Reuters reviewed public filings from countries where Binance claimed to have significant operations and found that the company did not detail tax payments in France and Dubai. The only significant tax payment discovered was in Lithuania, where Binance's subsidiary Bifinity paid €42.5 million in 2022. 




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Binance moved to Malta in 2018 during the country's push to establish itself as "Blockchain Island," but eventually left when regulations for the sector were introduced. During its stay, Binance benefited from a "grandfathering period" where it was exempt from authorization and anti-money laundering laws. Binance continued to reference\connections in Malta even after its departure, leading the Malta Financial Services Authority (MFSA) to clarify that the company is not authorised to operate under the Maltese law. Although Binance has left Malta, two associated companies, Binance Marketing Services Limited and Binance Europe Services Limited, are currently active.

Source : https://theshiftnews.com/2023/05/24/binance-never-paid-a-cent-of-tax-in-malta-despite-processing-billions/


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