Malta Budget 2016
Professor Edward Scicluna, Minister of Finance, presented the legislature's fourth budget in parliament.
He started off by giving an overview of the country’s economic performance over the year followed by a series of measures and initiatives that the Government will be implementing in the forthcoming year.
Measures announced in the 2016 budget include:
- Decrease in the price of petrol and diesel
- Reduction in the VAT rate on sports activities
- Cost of living adjustment of €1.75 per week
- Reduction in income tax particularly targeted towards lower income earners
- Continued removal of eco-tax and introduction of excise tax on certain products harmful to environment
- Tourist environment contribution of €0.50 per day, capped at €5 tourist aged over 18.
- Development of new Institute of Tourism Studies located at Smart City
A more detailed overview of the salient points in the Malta budget 2016 can be downloaded below.