Malta Budget 2017

October 11, 2016 | 2 minute read

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On the 17th October 2016, the Minister for Finance, the Hon. Professor Edward Scicluna presented his speech for the 2017 budget.

This document highlights the main fiscal measures, including:

  • COLA: €1.75 per week;
  • Tax deduction to companies providing free transport to their employees;
  • Removal of ECO-tax on selected products;
  • Incentives for renovation of property in UCAs;
  • Tax credits to companies who invest in pension schemes for their employees;
  • Incentives by Malta Enterprise for investment in energy-efficient equipment;
  • Setting up of ‘Property Malta’ in collaboration with MDA;
  • Launch of the Risk Investment Scheme for investment in SMEs such as Prospects on the Malta Stock Exchange;
  • Increase in excise tax on cigarettes and non-alcoholic drinks; introduction of excise tax on construction materials;
  • Reduced stamp duty rate on 1.5% of transfers of business to children;
  • Removal of income tax on pension income up to €13,000; and
  • Reduction in stamp duty upon acquisition of property in Gozo.

 

For further information, please contact:

Karl Cini
Partner
karl.cini@nexiabt.com

Antoinette Scerri
Senior Manager
antoinette.scerri@nexiabt.com

 

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