Income Tax and VAT (Value Added Tax) refunds experienced a marked upturn in the first four months of 2003 Maltese Finance Minister John Dalli revealed on Tuesday.
According to the figures, March saw a record 3,500 tax returns, though the Lm2.3 million refunded amounted to less than the March 2002 when Lm3.9 million was refunded.
Meanwhile, VAT refunds up to May 2003 totalled 7,000, equalling Lm9.6 million. The same period last year brought Lm6.7 million in refunds from 5,000 cases. It was also higher than the equivalent periods for 2000 and 2001 which saw Lm5.4 million and Lm7.6 million refunded respectively, and represents the highest total for VAT refunds for five years.
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