Thursday 28 March 2024

MDA considers the Budget to be positive

The Malta Developers Association considers the 2016 Budget announced this evening to be very positive and one that will continue to strengthen the property market and the economy generally.

The Budget shows that the Government is looking at Malta’s economic future in a manner that is outside the limits that governments normally work, that is, outside the box.
The Government announced measures that hit the economic sectors that needed to be addressed and in this way the Budget’s impact will be felt by both small and large businesses, while the needs of those on low incomes are also being addressed.
The MDA is satisfied that the government accepted a number of its suggestions, including the proposals for fiscal measures to help foster the regeneration of our Urban Conservation Areas, and the introduction of a final withholding tax on income from commercial leases.
The MDA also notes with pleasure that the exemption on the payment of stamp duty on the purchase of property by first time buyers which the MDA had requested in previous years, is going to be extended for another year.

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