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Tariffs Reduction Will Boost Gross Domestic Product by 0.5%
The reduction in electricity and water tariffs introduced on 31st March 2014 will increase consumption by €42 million and boost the gross domestic product by 0.5%. Furthermore lower income families will benefit from a higher percentage of savings than higher income families, the Minister for Finance Prof. Edward Scicluna said. Prof. Scicluna was speaking during a…
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Finance Minister pays tribute to Chinese engineers who lost their lives during construction of Dock 6
Finance Minister Prof. Edward Scicluna attended a wreath laying ceremony at the Addolorata Cemetery on Saturday 5th April 2014 in remembrance of two Chinese engineers who lost their lives during the construction of the No. 6 Dry Dock in Malta in 1979. The ceremony is an annual event organised by the Chinese Embassy on Chinese…
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The man who holds the purse strings
Dividends are still going to be taxed at 35 per cent for those who benefit from the earned income tax reduction to 32, 29 and then 25 per cent. It was suggested that dividends paid from reserves set aside prior to basis year 2012 will be taxed at 35 per cent, but that as from…
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Engaging with the Commission on the basis of competence – Videoblog 39
Finance Minister Prof. Edward Scicluna explains the working relationship that exists between the Finance Ministry and the European Commission. He explains that Malta’s Finance Ministry is no different from other finance ministries across all 28 European Member States, and that like them, the Maltese Finance Ministry continuously works closely with the Commission. Prof. Scicluna…
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Banking Activity Discontinuities should be Avoided
“We do not believe this is the right time for introducing discontinuities in banking activity during this delicate period and we have to tread carefully”. This was stated by the Minister for Finance, Professor Edward Scicluna in response to the Commission’s proposal and the Liikanen report regarding the possible reforms to the structure of the…
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Interview with Maltese Minister for Finance Prof Edward Scicluna
How important is the financial services sector to the Maltese economy? The financial services sector has witnessed significant growth over the years, and today stands as one of Malta’s key economic pillar, with a GDP contribution of 12 per cent and employing over 10,000 mostly in well-paid, high quality jobs. Clearly Malta’s economic vision is…
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MCESD-MEUSAC meeting on National Reform Programe
Finance Minister Prof. Edward Scicluna delivered an address to a joint meeting of the Malta Council for Economic and Social Development (MCESD) and the Malta-EU Action Steering Committee (MEUSAC) on Friday 28th March 2014, where he discussed the upcoming National Reform Programme (NRP). Prof. Scicluna explained that the NRP represents the beginning of the European…
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Childcare to Start Next Week following Signing with Service Providers
The Government has signed the formal agreement with service providers for the provision of free childcare services for working parents. The signing was presided by Education and Employment Minister Evarist Bartolo, and Finance Minister Prof. Edward Scicluna. The free childcare service agreement is expected to result in an increase in usage of childcare services by…
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Prof. Edward Scicluna on Sibt il-Punt – ONE Radio – 15.03.2014
Hosted by Manuel Micallef. – Saturday, 15st March, 2014
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“Malta Committed To Tax Transparency”
“Malta is committed towards tax transparency, and has tirelessly and consistently undertaken efforts in that regard, because we fully believe in the importance of this process,” Finance Minister Prof. Edward Scicluna said. Prof. Scicluna was delivering the opening address of the 15th meeting of the OECD’s Global Forum Peer Review Group, which was held in…