Malta Budget 2016 – General overview
Malta Budget 2016 – General overview

David Farrugia

Array

13 October, 2015

In the Budget speech for 2016, Finance Minister Prof. Edward Scicluna announced various fiscal measures and other social and environmentally friendly incentives. These include a reduction in personal tax across all the different tax rates, a plan to extend the final tax at the flat rate 15% to also cover income derived from the rental of commercial property and the reduction of the property transfers tax from 8% to 5% for certain transfers of regenerated properties in an Urban Conservation Area (“UCA“). For further information about these fiscal measures and other measures to be introduced kindly click here.