Speaking in Brussels at the Council Meeting of the Economic and Financial Affairs (ECOFIN) on the 7 November 2014, in relation to the additional contribution towards the EU Budget announced recently, the Minister for Finance, Professor Edward Scicluna said that, “Although the statistical revisions did not come as a surprise to Malta, there is a…

Speaking during the inauguration, Minister Scicluna said Malta is where it is today, receiving good news from the European Commission and various credit rating agencies, because of the stability the whole country has worked hard to retain. “This stability is not just economic, or political. It is also financial. This is thanks to our banks,…

Deficit under control, Economic growth higher than anticipated and expected to remain strong The Ministry for Finance welcomes the European Commission’s positive appraisal of the Maltese economy in its 2014 Autumn Forecast, wherein it recognises the robust performance to date, and for the coming two years. “What I liked most from the various comments was…

The Ministry for Finance considers Malta’s VAT mechanism as one of the most efficient among the EU’s 28 member states. This goes completely contrary to what was reported by the European Commission in its recently published report for 2012. While the Commission estimates some €241 million were lost to tax evasion in 2012, the Ministry’s…

The Minister for Finance Prof. Edward Scicluna launched a new withholding tax on rent on Thursday 30 October 2014. Minister Scicluna explained that by means of the new scheme, whereby the rate of tax on income from rented properties would be reduced from a maximum of 35% to 15%, tax evasion will be discouraged and…

  Malta has joined 50 states and jurisdictions in signing a Multilateral Agreement on The Automatic Exchange of Tax Information in Berlin, under the aegis of the OECD.   PRESS STATEMENT BY THE MINISTRY FOR FINANCE   The Minister for Finance Prof. Edward Scicluna welcomed the signing, underlining that it represents an important step in…

Hu ironiku li l-istess Tonio Fenech u l-Oppożizzjoni Nazzjonalista qegħdin kontinwament jattakkaw bl-aktar mod sfrenat il-mekkaniżmu tal-COLA, meta kienu l-istess Tonio Fenech u l-Partit Nazzjonalista li stabilixxew dan il-mekkaniżmu meta kienu fil-Gvern.   STQARRIJA MILL-MINISTERU GĦALL-FINANZI La dan il-Gvern, u lanqas ebda Gvern ta’ qabel, ma jista’ jieħu l-krettu għaż-żieda tal-COLA. Dan għaliex il-COLA tinħadem…

  “The results of the comprehensive assessment exercise conducted by the European Central Bank (ECB) on 130 banks located in 19 Member States reconfirmed the soundness and robustness of Malta’s banking sector,” said the Minister for Finance, Prof. Edward Scicluna. Minister Scicluna welcomed the results of the exercise as conducted by the ECB in conjunction…

L-Oppożizzjoni tidher li lanqas stqarrija sempliċi ma taf taqra. STQARRIJA MILL-MINISTERU GĦALL-FINANZI   Fl-ittra tagħha llum, il-Kummissjoni Ewropea ma elenkat ebda ksur tal-liġi u ma talbet l-ebda tibdil. Talbet biss kjarifiki mill-Gvern Malti bħala parti mill-proċeduri li ddaħħlu mill-Unjoni Ewropea s-sena l-oħra. L-Oppożizzjoni għal darb’oħra qed tara kif tipprova tagħmel ostakli, l-aqwa li tagħmel il-ħsara.…

  The Ministry for Finance received communication from the European Commission asking for further information related to the Draft Budget 2015 submitted by Malta on 15 October 2014. PRESS STATEMENT BY THE MINISTRY FOR FINANCE This procedure is normal practice according to new regulations under the two-pack system introduced for the first time last year.…