-
Holding the country’s purse strings
In eight days’ time, Finance Minister Edward Scicluna will announce the Budget for 2015. Vanessa Macdonald asked him about the impact of the measures in the last Budget The deficit target announced in Budget 2014 was €140 million. According to the National Statistics Office, by September this year it was already €284 million, in spite…
-
Maltese Government committed towards expanding its business outside the EU
The Minister for Finance Prof Edward Scicluna stated that the Government is fully committed towards furthering its economic growth by extending its look outside the EU for new business opportunities. During a courtesy visit with a Vietnamese delegation on Wednesday 5th November, Minister Scicluna highlighted Malta’s strengths within the accountancy, financial, legal and IT sectors.…
-
Malta welcomes equal treatment of staggered payment option
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…
-
Sailing smoothly through choppy waters – Videoblog 67
In his weekly video blog, the Minister for Finance Prof. Edward Scicluna welcomes the recently-published appraisal by the European Commission, which describes Malta as sailing smoothly through choppy waters. He notes that the Commission’s report highlights two main aspects: Malta’s current performance, as well as it expected performance for the coming years. The Minister remarks…
-
HSBC’s newly refurbished flagship branch in Merchants’ Street
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,…
-
Tnaqqis fit-Taxxa għall-Kumpaniji li jagħmlu donazzjonijiet lill-Malta Community Chest Fund
Bħala parti mill-ħidma tal-Gvern sabiex jinkoraġixxi aktar donazzjonijiet minn intrapriżi, donazjonijiet li jsiru minn kumpaniji lill-Malta Community Chest Fund se jkunu tax deductible. Dan it-tnaqqis fit-taxxa kien imħabbar mill-President ta’ Malta Marie-Louise Coleiro Preca u l-Ministru għall-Finanzi l-Prof. Edward Scicluna, l-Erbgħa 5 ta’ Novembru 2014. [nggallery id=223] Filwaqt li kien qed iħabbar din it-tnaqqis…
-
Commission Autumn forecast for Malta: Smooth Sailing in Choppy Waters
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…
-
Malta’s VAT mechanism amongst the most efficient
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…
-
Reduced Tax on Rent
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…
