Tax reduction in Malta in 2015 - OPM
Malta formed part of a small group of European Union member states were tax was reduced in 2015. According to information provided by Eurostat, people residing in Malta paid 0.4% less tax than the previous year, the Office of the Prime Minister Announced.
The OPM says that these figures confirm that families pay 6.8% tax compared with 9.4% European average.
At the same time the burden of stamp duty in Malta is almost half the European average. This, according to the OPM, explains why the country has had the highest employment growth in the EU for the past three years.
This success, the OPM claim, is threatened by the Opposition’s commitment to introducing a new tax burden on workers and employers through the second pillar pension scheme. The Opposition policy to add taxation can have a negative impact on government revenue from taxes from companies
The Government will remain committed not to increase burden on labour income, and instead exacerbate the economy and improve the level of aid to the ones who need it, the OPM said.