On the 9th of October, the Minister of Finance, Professor Edward Scicluna, presented the Budget for 2018.
A number of measures were announced by the Minister for Finance in the budget speech for 2018, which include:
- an increase in the exemption from tax on pension income;
- a stamp duty exemption which has been extended to second time buyers;
- an increase in the small undertakings VAT exemption threshold, from Euro 14,000 to Euro 20,000;
- the introduction of VAT grouping.
Finance Minister Edward Scicluna emphasized that no new taxes were introduced, existing ones were left untouched, as the government estimates an even larger economic growth next year and more jobs to be created.
WDM International is pleased to provide you with the Malta Budget Highlights 2018.
For further information in relation to how the Budget measures may affect you or your business contact us on [email protected]