Malta Budget 2023
Explore the measures announced in the Malta Budget 2023.
Other Measures
The Minister also announces the following measures:
- A new role within the police department, referred to as the Police Patrol and Community Support Officer (PCSO), will be established with the objective of having continuous highly visible patrols in certain areas on the island. Furthermore, a Roads Policing division will be set up.
- Licence fees payable in order to apply for single work permits for non-Maltese workers is expected to increase, yet the quantum has not been announced by the Minister. Outsourcing and temping agencies will have the obligation to acquire a license in order to engage non-EU employees.
- The existing Wage Regulation Orders are expected to be harmonized and streamlined to remove anomalies between industries.
- The Lands Authority shall be extending the pilot scheme introduced in 2015 whereby government-owned commercial property leases, also known as the Valletta Shop Scheme, shall be extended to the entire country.
- The Minister noted the government’s intention to revamp local legislation in both the Aviation and Maritime sector. In fact it was noted that in 2024, changes shall be made to the Merchant Shipping Act whereby a new regime for superyachts shall be introduced, outlining the vision for Malta’s maritime industry for the next 20 years. Aircraft leasing initiatives are also expected in the coming year.
- It was also stated that the need to appoint a statutory auditor for the purposes of auditing the financial results of small companies and certain companies registered under the Merchant Shipping Act will be removed. Yet it was noted that the need to ensure the integrity of the financial results will remain.
Want to know more?
Lorraine Camilleri Tax Manager Birkirkara
Elaine Marie Debono Tax manager Birkirkara
Ruth Farrugia Tax Director Birkirkara
