In a meeting with the representatives of the Maltese Developers Association, MDA, the Prime Minister Robert Abela said that the proposal that was submitted and that was implemented by the government in the Economic Regeneration Plan to tax the stamp fell from 5% to 1.5%, gave immediate results so much so that it left a positive impact on employment.
The Prime Minister said that contrary to what happened in other countries, in Malta the number of people decreased by 0.4%.
During the meeting in Castile as part of a budget consultation for next year, the Prime Minister noted that the Association is acting professionally as it is not only looking after the interests of its members but also of ‘how the country will benefit.
MDA President Sandro Chetcuti praised the work done by Prime Minister Abela and the government to implement the stamp duty reduction scheme and said it was crucial for the sector to record a record of ‘conventions from 2017 onwards for four consecutive months.
Mr Chetcuti also presented 15 proposals for consideration by the government in the presentation of Budget 2021. Among them he mentioned the renewal of the First Time Buyers scheme, the extension and amendments to the incentives introduced after Covid-19 related to the reduction of stamp duty and capital taxes and the introduction of grants for all types of landscaping work and environmentally friendly facilities such as green roofs and roof gardens.
