Bugdet 2009 released

See the complete budget summary [PDF, 111kb]

On the 3rd of November 2008, Hon. Tonio Fenech, Malta's Minister of Finance, delivered the Maltese Budget for 2009. In general, the Budget entitled 'Responsibility, Sustainably and Solidarity aims to introduce measures targeted towards the use of green technology and has continued to foster industrial development to stimulate the Maltese economy. The Maltese government has announced various regeneration and restoration projects such as the regeneration of the Menqa at Marsa, the restoration of the Upper Barrakka Gardens, the development of yacht marinas in Kalkara and Sa Maison and a new cruise terminal at Boiler Wharf.

The main highlights of the Malta Budget 2009
were the following:

  • Revision in motor vehicle registration tax regime.
  • Revisions in motor vehicle annual licenses.
  • Revision of personal income tax bands.
  • Fiscal incentives related to women returning to work.
  • Revisions in penalties and interest on outstanding income tax and value added tax.
  • The introduction of General Accounting Principles for Small Enterprises (GAPSEs).
  • Weekly increase of 4.08 per week to compensate for Cost of Living.

See the complete budget summary [PDF, 111kb]

Written by Christian Vella — Tue, 04 November 2008