Malta 2018 Budget Delivered

On 9 October 2017, Malta's Minister for Finance, Edward Scicluna, presented the Budget for 2018. The tax-related aspects of the budget include:

• No tax increases;
• Tax reductions for individuals making less than EUR 60,000 a year;
• An increase in the value added tax (VAT) registration threshold from EUR 14,000 to EUR 20,000;
• Increased penalties for tax evasion and additional efforts by the Joint Enforcement Task Force to identify companies and businesses engaged in evasion;
• A new VAT grouping c…