Malta Budget 2020

Updated: June 04, 2020 | 2 minute read

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The Honorable Minister of Finance Prof. Edward Scicluna presented the Budget for the year 2020 on

Monday, 14th October 2019.

 

Malta Budget 2020 Highlights

final malta budget highlights - 1.	The Cost of Living Adjustment (COLA) for 2020 is of €3.49 per week 2.	Social security pensions will be increased by €3.51 per week 3.	Extension and improvement of the first-time buyers stamp duty reduction scheme 4.	A reduced rate of tax of 15% for the first 100 qualifying hours of overtime worked 5.	A reduced rate of tax for transfers of property promise of sale  6.	The tax rebate to persons earning up to €60,000 per annum is being granted once again 7.	Extension of the reduced rate of stamp duty for transfers of family businesses 8.	No registration tax on the purchase of electric / hybrid vehicles 9.	Tax refunds will be given in 6 months’ time rather than one year 10.	Extension of the fiscal incentives for Voluntary Occupational Pension Schemes

Click Below to Download Malta Budget 2020.

 

malta 2019 budget pdf
 
 

Disclaimer: This publication reflects announcements made during the Budget speech on the 14th October 2019. The information contained within this publication should not be deemed to constitute any form of direct and/or indirect advice and is simply limited to a factual replication of the Budget speech as aforementioned. Nexia BT, its employees, agents and/or representatives shall not be held liable for any direct and/or indirect liability suffered and/or assumed by the reader of this Publication. Readers are encouraged to contact us on tax@nexiabt.com or +35621637778 for a comprehensive analysis as to how the relevant Budget measures affect him/her.

 

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