On Monday evening, Minister of Finance Clyde Caruana presented Malta’s budget to Parliament. Keeping in mind the current turmoil posed by the Russia-Ukraine war as well as the economic pressures being experienced by several EU member states, the Maltese government has maintained a firm priority to counteract ever-increasing inflation rates with the implementation of a number of measures to aid more vulnerable individuals. Climate change was the other central theme of the budget, with the government promoting sustainable investment in local businesses, focusing on achieving a greener infrastructure as well as enhancing the transport systems in Malta to make further use of sustainable energy. The Government has maintained that Malta's full imputation system of taxation will remain unchanged. Additionally, the Minister affirmed that Malta will apply the derogation allowed by the EU Minimum Tax Directive, postponing the implementation of the 15% minimum tax rate for certain businesses.
Malta Budget 2024 Download