19 October, 2021

Positive Proposals but need for a Long Term, Sustainable Fiscal Vision


The Malta Chamber welcomes the fact that several of the measures it proposed were taken on board by the Leader of Opposition in his response to last week’s Budget. The most notable were the establishment of a specialised due diligence unit accessible to professionals such as accountants and lawyers and the reduction of VAT rate for all restaurant sales and hotel services to 7% to assist the Tourism sector.

The Malta Chamber is particularly concerned with the Leader of Opposition’s statement on the extension of VAT exemptions up to €60,000 declared revenue, particularly in view of new EU VAT simplification rules that will come into effect as of January 2025 whereby all EU SMEs which do not surpass the local thresholds will be allowed to benefit from the same exemptions as local traders and businesses.

The Malta Chamber insists on the importance of a prudent approach in terms of budgetary proposal financing. It is crucial that in the weeks and months to come, the two main political parties do not enter into populist discourse. Any unsustainable measures that are proposed will ultimately be borne by the taxpayer and will render any deficit and debt targets unattainable.

The Malta Chamber calls for a mature discussion in the run-up to the next election and calls for political consensus in addressing fiscal targets and restoration of our international reputation, which is adversely impacting our attractiveness for foreign direct investment.

All News

View All

21 February, 2024

TradeMalta assists local companies to showcase their culinary delights...

...

Learn More
09 February, 2024

Geo-political tensions persist, but low public debt and high bank liqu...

...

Learn More
07 February, 2024

Malta Business Bureau Reaffirms its Role as Malta’s Business Gateway...

...

Learn More
17 January, 2024

The Malta Chamber and BNF Bank p.l.c Renew Bronze Collaboration Agreem...

...

Learn More

All News

View All

Chamber News

21 February, 2024

TradeMalta assists local companies to showcase their culinary delights...

...

Learn More

Chamber News

09 February, 2024

Malta Business Bureau Reacts to 2040 EU Climate Target Recommendation...

...

Learn More

Chamber News

09 February, 2024

Geo-political tensions persist, but low public debt and high bank liqu...

...

Learn More

Chamber News

07 February, 2024

Malta Business Bureau Reaffirms its Role as Malta’s Business Gateway...

...

Learn More

upcoming events

View All

Upcoming Events

27 February, 2024

Workshop: Employees wellbeing and engagement

...

Learn More

Upcoming Events

04 March, 2024

Online Info Session: Carbon Border Adjustment Mechanism

...

Learn More

Upcoming Events

06 March, 2024

What's Trending - Social Media in Malta

...

Learn More

Upcoming Events

12 March, 2024

Info Session on Sustainability Support

...

Learn More

upcoming events

View All

27 Feb
upcoming event 27 February, 2024, 08:30 AM

Workshop: Employees wellbeing and engagement

Learn More
04 Mar
upcoming event 04 March, 2024, 10:30 AM

Online Info Session: Carbon Border Adjustment Mechanism

Learn More
06 Mar
upcoming event 06 March, 2024, 08:30 AM

What's Trending - Social Media in Malta

Learn More
12 Mar
upcoming event 12 March, 2024, 08:30 AM

Info Session on Sustainability Support

Learn More
20 Mar
upcoming event 20 March, 2024, 05:30 PM

Annual General Meeting 2024

Learn More