Malta Budget 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


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