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.
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