In a news conference with the theme ‘Fair Malta’, the Minister for Agriculture, Fisheries and Animal Rights Anton Refalo announced the establishment of the Malta Agricultural Resources Agency which is part of the reform in – crop field announced in October 2022.
Minister Anton Refalo explained that this agency is primarily responsible for the protection of agricultural land, so that it continues to be cultivated and worked by farmers, in order to guarantee the sustainability of farming, food production and the protection of the rural environment.
Minister Refalo went on to explain the role that this agency will play, including ensuring that the agricultural land continues to be worked for its agricultural purpose. Therefore, it will welcome the registration of agricultural lands, both those that are being rented to farmers and those that are being worked by the owner himself, as well as the registration of any sale of agricultural land.
For this purpose a register will be kept with information about the ownership and use of the land. The agency will also be incentivizing the acquisition of a private farm by farmers who have the agricultural land leased to them, by giving them the right of preference when the owner decides that he wants to sell the land he is cultivating is worked on.
Minister Refalo went on to explain that the agency will also be acquiring farmland offered for sale by the owners so that the agency itself can allocate such land to be worked by farmers, while a distinction will be made between active farmers, farmers of the hobby and the newcomers who are still entering or trying to enter the agricultural sector. Agricultural Resources Malta will be establishing various measures to safeguard the protection of crops, among which it will be launching incentives for young farmers, where they will be able to benefit from financial instruments that will help them buy agricultural land.
The Minister also explained that from January another important measure that was announced in Budget 2024 will come into effect, the inheritance tax exemption on agricultural land leased or worked by farmers. Through this measure, any person who has just inherited agricultural land that is being rented to a farmer or agricultural land that is being worked by the heir himself, will be exempted from inheritance tax after that the same person who is eligible to benefit from such an incentive has registered the land in question with the Malta Agricultural Resources.
Minister Refalo encouraged the owners who have agricultural land to register such land with the Agency. “The Government will continue with the performance of its work so that the agricultural land is protected in the best possible way and that there is no risk to the livelihood of our farmers,” concluded Minister Anton Refalo.
