Green Economy
The Minister announced that investments will be made in the road network which will include introducing more bicycle lanes and pedestrian areas. Moreover, by 2024 the charging points for electrical cars will be increased by around 800 to 1,200.
- The existing measures aimed to incentivize the acquisition of electric cars will be extended. These include assistance for the acquisition of new electric vehicles and electric bicycles, as well as extension of the scrappage scheme. The exemption from the payment of registration tax and road licenses applicable to electric and plug in hybrid vehicles for a period of five years from the registration date will likewise still apply. A new measure will provide financial assistance for the acquisition of personal e-kick scooters.
- The Minister further announced that consultation will take place on the proposal of fiscal incentives on Green Bonds with the aim to incentivise individuals and companies alike to invest in sustainable investments.
Want to know more?
Elaine Marie Debono Tax manager Birkirkara
Ruth Farrugia Tax Director Birkirkara
Paul Giglio Tax & Assurance Partner Birkirkara
Malta Budget 2023
Explore the measures announced in the Malta Budget 2023.