Malta Budget 2018

February 18, 2018

 

Budget 2018 Speech (Maltese)

 

Budget 2018 Speech (English)

 

Economic Survey 2017

 

  • Malta's economy grows by 6.3% in the first six months of 2017 

  • A surplus to 16.6% of GDP in second quarter of 2017 

  • No additional taxes are to be announced in this budget 

  • COLA set to be €1.75 a week 

  • An extra day of leave announced for employees 

  • Weekly increase of €2 in pensions 

  • Pension income exempt from tax to be increased to €13,200 

  • Earnings of up to €60,000 will start receiving a partial tax refund 

  • VAT exemption on services rendered by SMEs increased to €20,000 

  • €200 a month increase for persons within the Community Workers Scheme 

  • Maximum allowance of €10,000 to cover expenses incurred by parents in adoption proceedings 

  • An increase from €70 to €100 per week in foster care allowance 

  • 300 more social loans to aid when purchasing homes 

  • First time buyers scheme has been extended for yet another year 

  • UCA stamp duty reduced from 5% to 2.5% 

  • Duty reduction on Gozo properties extended for 2018 

  • €700 million investment over 7 years for road infrastructural upgrades 

  • €400 grant plus VAT exemption on motorcycles, scooters and pedelec bicycles 

  • Electric and hybrid cars to be exempt from registration tax, 5 year exemption from yearly road tax on certain vehicles 

  • Waste-to-energy project worth €150million investment 

  • Assistance of up to €3,000 will be given to those who sell their first home to buy another one 

  • VAT grouping to be introduced for financial sector & iGaming operators dramatically reducing bureaucracy 

  • MicroInvest scheme for women owning companies increased to €70,000 

  • MicroInvest scheme increased from €30,000 to €50,000 

  • MicroInvest scheme increased €50,000 to €70,000 for enterprises based in Gozo 

  • Individual Investment Program (IIP) extended 

  • ICT research hub to be set up in Gozo 

  • Offsetting system to be introduced for companies that have credit against Government 

  • SEC and MATSEC examination fees to be halved in 2018 and removed by 2019 

  • Blockchain in education 

  • Tax exemption in tax credits to PhD and Masters graduates 

  • National Cancer Research Foundation to be set up 

     

     

     

     

     

     

     

     

     

Share on Facebook
Share on Twitter
Please reload

Featured Posts

How Blockchain and Construction Will Build a New World

October 14, 2018

1/3
Please reload

Recent Posts
Please reload

Archive
Please reload

Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square