Maltese businesses who have been most impacted by the COVID-19 coronavirus will be granted a tax moratorium, Prime Minister Robert Abela has announced.
Addressing a press conference, Abela said businesses in the tourism, hospitality, recreational and transport sectors as well as some unnamed manufacturing companies will benefit from a two-month tax moratorium.
This will mean their taxes due in March and April, including provisional tax, VAT and social security contributions, have been postponed to a future date so as to give them a breather and discourage them from laying off workers.
Moreover, Abela said the government will refund companies who invest in teleworking systems for their efforts and will accelerate due payments so as to protect their liquidity.
“These measures will have a positive impact on businesses and we can only implement them because our economy is resilient, our finances are strong, and the government was wise enough to save up for this day.”
“We will continuously assess the economic situation and announce more measures according to the circumstances.”