Businesses and service providers who earn under €60,000 will be exempt from VAT under a future PN government, Opposition leader Bernard Grech pledged last night.
Addressing a party rally, Grech warned that businesses are facing serious bureaucracy problems which have only been exacerbated by Malta’s greylisting by the Financial Action Task Force.
“Rather than fulfilling the government’s promise to reduce excessive bureaucracy, the Prime Minister closed down the office that was meant to tackle it,” he said. “Robert Abela has thrown down his weapons and has given up even trying to solve the problem, but we will courageously face it head-on.”
Grech pledged to raise the income ceiling at which businesses will have to pay VAT from €30,000 to €60,000, a move he said will clamp down on bureaucracy at source and ease cost of living problems in the process.
“You will have less red tape to deal with,” the PN leader told businesses. “We will remove those chains that are dragging you down, we will allow you to fly and progress so you can expand your business and invest more, so you can earn more money and employ more people.”
In recent years, the government increased the VAT ceiling from €14,000 to €20,000 and then again to €30,000.
Grech’s promise came on the same day as Abela announced that some 250,000 people will receive a tax refund cheque from the government in the coming days.
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