Malta removes two types of taxes to relieve citizens
Malta removes two types of taxes to relieve citizens

aleqtisady .. The government of Malta removes two new types of taxes, for development and increased investment, and the advancement of the economy in all aspects

Today the Malta government removed two important types of taxes for the purpose of supporting local companies in order to achieve more high, sustainable and sustainable development.

As part of the government's economic plan release, the President of Malta, George William Villa, announced today the removal of two expansion barriers faced by companies to increase investment.

George William Villa said that nowadays, the costs are often associated with exploring whether to invest in new assets or business models that are not deductible for tax purposes.

Business owners tell us this can deter them from spending money searching for the best way to do things.

George William Villa added that we are changing this so that companies can deduct the feasibility expenses from their tax bills, including projects that are not going forward.

Hence, this procedure will be included in the tax bill that will be presented to Parliament early next year, which means that the change can start from the beginning of the next tax year.

While the second proposal announced today will change the "rules for loss continuity" on the island of Malta to facilitate the startups attract investment and start working.

According to the rules currently in effect, a one-year loss company can use this loss to reduce its taxable income in the future, but the rules do not work well for startups trying to attract new investments.

The new changes in Malat, which were announced today as part of the government's economic plan, depend on initiatives already announced.