No Match Found
A summary with highlights of the key fiscal and economic points of the Malta Budget 2022.
Welcome to the Malta Budget Highlights for 2022. This budget contains a number of measures aimed at sustaining economic growth in a post pandemic environment. It also introduces various environmental and sustainability related measures.
Cost of living adjustment of €1.75 per week
Over a 5 year period, taxable income will exclude pension income
Exempt pension income up to €14,318
Tax relief on transfer of properties which are vacant, in UCA or which have traditional features
Tax rate on part time income reduced to 10%
Free public transport to Maltese residents
Social security pensions increase by €5 weekly inclusive of €1.75 COLA
Extension of reduced stamp duty on donation of family businesses
Increased aid when acquiring new electric vehicles or plug-in hybrids
Various measures to assist low income earners to become homeowners. Extension of provision of free childcare to parents working shifts, evenings or weekends. Introduction of various incentives and programmes to attract startups to Malta.
Free public transport and further incentives to promote electric vehicle ownership or cleaner fossil fuel based engines . Additional incentives to encourage investment in renewable energy.
Commitments to rollout afforestation projects in the south of Malta, greater focus on conservation and development urban zones, public gardens and parks and other public areas and increased availability of financing to fund “green” projects.