Malta Budget 2018
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
