In the Budget speech for 2015, Finance Minister Prof. Edward Scicluna announced various fiscal measures. The final stage of the reduction in the personal income tax rates and an overhaul of the income tax regime for the transfer of immovable property were among the principal income tax measures presented. In terms of VAT and indirect tax, a reduction in VAT on e-books from 18% to 5% and the re-introduction of the registration requirement for persons whose turnover does not exceed €7,000 were also announced. Other social measures to be introduced target the employment of disabled persons, maternity leave entitlement and amendments to the pensions system.
For further information about the principal measures to be introduced kindly click here.
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