Finance Minister calls for ‘Green deal’ support

23rd January 2020

The European Commission’s Green Deal proposal seeks to tackle climate change and outlines the EU’s roadmap towards a carbon-neutral economy by 2050.

The European Green Deal is a welcome move but there must be “adequate support” to ensure no country is disadvantaged, Finance Minister Edward Scicluna told counterparts in Brussels.

Addressing the Ecofin Council, Prof. Scicluna argued that the adoption of the strategy aimed at synergising the economy, the environment and society risked being a burden on some member states. As an example, he mentioned the aviation and maritime sectors, which could be affected by fuel taxation.

The European Commission’s Green Deal proposal seeks to tackle climate change and outlines the EU’s roadmap towards a carbon-neutral economy by 2050.

Recent developments at OECD level with regard to digital taxation were also on the agenda of the European economy and finance ministers’ meeting.

An official statement quoted Prof. Scicluna saying that Malta is seeking a balance between tax avoidance and double taxation as well as tax certainty.

“We are talking about a global issue, namely corporate taxation, which, of its nature, cannot be decided unilaterally no matter the justification. Like a round of trade negotiations, a global taxation agreement needs time to mature and cannot be rushed,” he said.


25th January 2020

Economist Gordon Cordina cautions about the way forward, and stresses the need for quality to outshine quantity.

Ray Bugeja - 22nd January 2020

Malta government securities and debt instruments with a maturity of more than one year are not expected to exceed €450 million for the financial year 2020, according to the Treasury.

22nd January 2020

The annual inflation rate in December stood at 1.18 per cent, down from 1.36 the previous month, according to official figures.

22nd January 2020

Last year, large corporations such as Paypal and Mastercard quit the Libra Association following regulatory scrutiny.