Malta's Budget seeks To Stabilise Finances

Tax-news.com

28 November 1999

Following last week's budget, the Malta Chamber of Commerce said it was satisfied with the Government's progress with its plans to strengthen the public finances. Malta is now in year two of a six year plan designed to put its public finances in order by 2004.

This year’s Budget aims to enforce the principles of social justice by placing a larger fiscal burden on the financially strongest section of the population (now, where have we heard that before?).

The Chamber of Commerce also called for greater control on Value Added Tax (VAT) evasion, which it considers widespread in an expanding underground economy.

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