Maximum income tax rate to be reduced
Proposal to make cuts over coming two or three years
The Government is expected to honour its electoral pledge to reduce the maximum income tax rate, but will spread out the cut over two to three years to “keep in line” with the country’s fiscal objectives, The Sunday Times has learnt.
Income tax ceilings are not expected to be raised and some measures are to be taken to make up for the shortfall, which may prompt an increase in excise duty.
Finance Minister Tonio Fenech is expected to unveil the income tax decision in Wednesday’s Budget presentation, which will be the last for this legislature.
Ministry officials have been asked to carry out simulations on a number of options to reduce the maximum 35 per cent rate by three per cent for two years, and a further cut of four per cent in the third year.
Another option is to reduce the tax rate by five per cent for two years, according to sources.
The pledge, made before the 2008 election that helped the PN secure a third term, had proposed slashing the top income tax rate from 35 per cent to 25 per cent, up to a maximum income of €60,000.
The minister is expected to announce that the Government collected €840 million in income tax revenue for 2012, with expectations of higher figures for 2013, based on higher corporate profits expectations.
But the revenue figure will be offset by additional health and pension costs, sources said.
Certain pension scheme anomalies are expected to be amended while the successful micro-invest scheme may be extended. More fiscal incentives are expected to be unveiled to promote solar energy.
Earlier this month, the European Commission recommended lifting the excessive deficit procedure for Malta in view of its consistent path towards a smaller deficit.
The Government had to present its 2013 estimates to the Commission to ensure the Budget to be presented remains within the parameters of financial stability under new EU fiscal rules.
Sources said this has limited the room for manoeuvrability, with expenditure being constrained in a number of areas to ensure fiscal targets are still met.
The 2013 Budget vote in Parliament is expected to be taken in the first week of December.
137 Comments
Post comment
Please sign in or create your Account to post comments.
phyllis butler
Nov 28th 2012, 19:20
Why the maximum income tax rate only? What about pensioners who pay taxes and yet there is no distinction on ALL THEIR UTILITY BILLS and are CHARGED just like the high earners??
John L Galea
Nov 27th 2012, 08:11
u x'kumbinazzjoni f'dan il-budget.
A J Rose
Nov 26th 2012, 21:49
This tax reduction is what the PL leader has been harping on about for months.
One would expect him to be happy if it is decided in the forthcoming budget.
I wonder what he would object to next !!!
Brian Gatt
Nov 26th 2012, 16:42
Now it wants to honour its electoral promise of reducing the taxes? Ara veru these people have no shame!!!! yesterday the PM smiled charmingly and stated that it will not be a pre-election budget YEAH RIGHT!!!
R. C. Conti.
Nov 26th 2012, 13:52
Bzar fl-ghajnejn.
E Gatt
Nov 26th 2012, 13:26
In 1988, the newly elected PN government had slashed the top income tax rate imposed by the Socialists from 65% to 35%.
Now be honest, did or didn’t the extra income enjoyed by taxpayers after the 1988 tax break, contribute towards the economic boom?
effie stafrace
Nov 26th 2012, 11:11
to mr galea.in four years we had 2 recessions.do you think capitalism works.are we creating governments that have no power over the economy?
twanny borg
Nov 26th 2012, 10:35
li hadd ma jista jifhem huwa kif fd jghid li se jivvota kontra l-budget sempliciment ghax irid li a.gatt jitnehha minn ministru. ragunar bla sens ghax huwa l-prim ministru li jahtar il-ministri. anki jekk stess ghamel zbalji l-argument tal-budget vs ag banali. haga li hadd ma jasal li jaghmel ghax hadd ma jrid li jerfa tort f'kaz ta' telfa elettorali.
J Cassar
Nov 26th 2012, 10:07
More than reduced i think the brackets should be narrowed. I find it unfair that someone earning Eur19,501 should pay the same tax as someone earning very 40k... same applies to the Parent and Married highest bracket... More brackets should be introduced slimming down the huge gap between gross earnings!
Patrik Larsson
Nov 26th 2012, 10:04
It feels a bit badly timed to announce this a day before it's announced that some 15% of the population is living in poverty. With income taxes as low as they are in Malta, is it really necessary to make further cuts, especially to those with high incomes?
Maria Sammut
Nov 28th 2012, 20:50
Exactly the cuts go to those with high incomes and us who are on the lower end will still have to pay the same taxes. How ironic!
Mark. Galea
Nov 26th 2012, 09:59
Now that the income tax issue is finally tackled, I would really like to know what the dear Leader will propose to the new middle class he is creating ... since they will be directly effected by the income tax issue in a much higher scale than the electricity bill (excluding water, since water has recently vanished from the equation)
Renato Balzan
Nov 26th 2012, 10:27
How pathetic. Don't you remember that this promise was done before last general election? Don't you feel that Gonzi is thinking that we are stupid? Why after 7 years he came up with this measure a few days before the general election?
effie stafrace
Nov 26th 2012, 10:58
Children who only eat pasta
and bread. I suggest you read this article closely on the times.what we are fighting today is called poverty.but persons like you is happy that after 5 years in power mr fenech has given us this flash news.one question i would like to ask.by this new tax band who is going to gain?the very well off or the persons mentioned in the poverty article?
Joseph Borg
Nov 26th 2012, 09:39
So, basically, instead of helping middle class families, this goverment is licking those who earn a good pay check every month. Let them pay if there are earning so much. Help those who really need it.
Mr Jurgen Grech
Nov 26th 2012, 10:36
Eh mela, taf x'naghmlu, nnaqsu l-kont tad-dawl halli min imdorri jahli, jkompli jahli - u min stinka u hadem biex ikollu job tajjeb, dak nkomplu nghasruh! Tad-dahk s-sitwazzjoni, meta tkun ghamilt sa tletin sena tistudja biex imbaghad tmur tahdem, ikollok job ta certu responsabilta, stress u pressjoni, biex f'l-ahhar tax-xaghar, meta taqta t-taxxa, ta tahtek ikollom kwazi daqshekk!
Fred Saliba
Nov 26th 2012, 10:43
So you're saying that because I worked hard, studied hard, and am still studying hard while working and paying taxes, the Government should tax me so you benefit .... TAJJEB HEKK HUX?
MHUX HEKK NIBQGHU ....
When you get a PhD .... come and tell me that you deserve more money than me ....
effie stafrace
Nov 26th 2012, 09:17
too little too late
Fran Abela
Nov 26th 2012, 09:06
It may be a better idea that pensioners who get the 'contributory' pension would not require to pay income tax on their pension. As I see it the tax on pensions is a double tax because pensioners would have already paid tax when they were gainfully employed.
Pippo de Marco
Nov 26th 2012, 08:31
As I commented the other day; the EU will have to get tough on spending, so watch out for electoral sweeteners at home and take them with a HUGE pinch of scepticism.
M. Bezzina
Nov 25th 2012, 23:46
Election is knocking the door!!!
Alfred J. McEwen
Nov 26th 2012, 10:50
Austerity is also knocking on the door
Alex Ellul
Nov 25th 2012, 23:29
Socialism and the creation of wealth are mutually exclusive. Socialism and the creation of wealth cannot existssimultaneously at the same place at the same time anywhere in the world.
Socialists have tried out their experiment under many guises but they always fail and will always fail, because one cannot repeat the same thing over and over again and get different results each time. It's madness
Alex Ellul
Nov 25th 2012, 23:24
...France has just experienced its first six months of a socialist government. It's economy is now in trouble so much so that the French socialist gov has made the fastest U-turn in French history by reversing its increased-tax policy on the rich who started to move out of France taking everything with them except their houses, thus creating also a housing crash.
Alex Ellul
Nov 25th 2012, 23:20
Socialist governments:
Spanish Zapatero left 25% unemployment and a fiscal collapse after two stints as PM. Then he abdicated.
Greece destroyed its economy during endless years run by the socialist party
Obama's experiment with 'redistribution of wealth' which is socialism which actually is theft, has created a fiscal cliff, doubled the people on food stamps, increased unemployment
pat muscat
Nov 25th 2012, 22:35
...and pigs will be flying soon because the question is where is the Government going to get the money from, how much, when etc etc; the usual CD Net media plays!
Karl Grech
Nov 26th 2012, 09:15
Well if JM can find the money to reduce the power bills why can't the Government get the money to reduce the income tax rate?
Charles Massa
Nov 25th 2012, 19:37
It tnaqqis fl income tax kellha tibda fi 2008. Ftit xhur ilu Gonzi qal li jkun irrisponsabbli jekk inaqqas l income tax. issa ghax gejja l elezzjoni ghamel U TURN biex jirbah ftit voti. Il poplu mhix se jinsa minn xix ghadda dawn l ahhar 5 snin
Joseph Fenech
Nov 25th 2012, 23:00
Joseph Muscat qal pubblikament li huwa kontra iz - zwieg bejn nies ta l - istess sess. ISSS iddikjara li huwa LIBERALI -- GHALIEX ?? BIEX JIRBAH ERBA VOTI !!!!!
Stephen Mangion
Nov 25th 2012, 18:59
This is a Knock-Knock joke
mark borg
Nov 25th 2012, 17:43
hope it will not be shot down by the EU like it did on the 40 k minus post budget, just this year !
J.C. Borg
Nov 25th 2012, 16:40
I wonder why all this panic. If PN is not elected to govern Joseph said that he will keep the good things from the budget. May be he will decide to implement the cut withing 2013. (Sakemm ma jgibx xi skuza ta' falliment).
Vince Piscopo
Nov 26th 2012, 02:21
Mela qed taqta qalbek li se tirbhu??!!!!
twanny borg
Nov 25th 2012, 16:19
Tal-pl veru ghandhom memorja qasira mela insew meta kienu huma fil-gvern qabel l-elezzjoni kienu taw lm.4 zieda fil-paga u meta telaw ghamlu tlett snin bla ma jaghtu zieda?
Gordon Farrugia
Nov 25th 2012, 17:38
mela insejt li Dr Gonzi qal li ezatt kif jitla hu hames snin ilu ha jnaqqas l-income tax minn 35% al 25% - taf kemm il-darba irrepetiha dik!!?? Imma kif ma jisthux dawn il-politikanti - minn ma jzommx weghdiet bhal dawn ghandna bzonn inwaqqghuh wara sena u mhux inhalluh jiggverna 5 snin.
twanny borg
Nov 25th 2012, 20:49
Gordon - taf li d-dinja ghaddejje minn krizi li qatt ma rat bhala? Bil-mod anki din il-weghda titwettaq. Personalment ma tantx naqbel maghha ahjar joghla l-ammont li jibda wiehed jigi intaxxat. Igawdi l-aktar min jaqlq anqas.
Vince Piscopo
Nov 26th 2012, 02:28
Sur Borg bhala ragunament nasal biex naqbel mieghek sa certu punt fuq l-kuncett tal-income tax li minn jaqla anqas ghandu jhallas anqas pero l punt huwa li meta jsiru weghdi ghandhom jigu studjati w implimentati b responsabillta u mhux biex nattiraw l voti kif sar mil PN fit 2008. Allura propju ftit xhur qabel elezzjoni kellu jhabbara di?!!
James Tyrrell
Nov 25th 2012, 15:28
"The Government is expected to honour its electoral pledge." What a joke of a statement! They have had four years to 'honour their electoral pledge,' yet they decide to do it 5 minute before the next election. Why? Because they know that they will not be in power after the next election and therefore any cuts they make will be Labour's problem to deal with.
j brincat
Nov 25th 2012, 15:16
This Budget is ONE whole gimmick like that of 2008.
GonziPN knows fully well that the budget vote won’t pass.
So, this gives GonziPN a blanch carte of making ALL the fancy promises in the world.
Then, when the budget vote falls through GonziPN will blame the PL!
If the PN wins again then he will come up with some other excuse like in 2009 NOT to fulfil the heavenly promises!
(jb)
B Ellul
Nov 25th 2012, 16:55
If the PN wins, they will be giving you a furher 5 years to continue whining and me a further 5 years to continue reading your stupid/desperate comments. Just take a break (ideally a long one). from posting anything.
John Zammit
Nov 25th 2012, 15:04
An electoral Gimmick What else could you call it. Too little Too late
Joe Borg (Senior)
Nov 25th 2012, 14:53
Another GonziPN UTurn!!
j brincat
Nov 25th 2012, 15:08
U Turns have now become a hallmark of GonziPN!
(jb)
Martin vella
Nov 25th 2012, 14:24
Malta must be the only place on earth where it's citizens complain about their tax rates coming down. It's hilarious!
ANTHONY PAVIA
Nov 25th 2012, 15:14
Perhaps because they realise that a cut in one place would be replaced by an increase somewhere else. As oil has still to be struck, please give people some credit for common sense. May I ask if pensioners whose sole income is their pension would now be taxable?
G Schembri
Nov 25th 2012, 19:01
My income Tax rates will not go down, you see I do not reach the 35% bracket. It would be fairer if the ceiling is raised, that way everyone will benefit.
j brincat
Nov 25th 2012, 14:17
"The Government is expected to honour its electoral pledge"
What electoral pledge???
That SOLEMN promise which had to come into effect from 1/1/2009 and which won GonziPN the election by a mere 1500 votes?
TOO late!
GonziPN CANNOT fool ALL the people ALL the time!
(jb)
j brincat
Nov 25th 2012, 14:12
" income tax rate to be reduced"
Deja vu!
The same promise was made in 2008 by the same GonziPN. This had to come into effect from 2009 AND at the time when the dark clouds were already there. This promise was made so that the tax reduction would create an economic boom!
What happened after the 2008 elections? GonziPN just took €600 a WEEK but no tax reduction!
(jb)
Charles Micallef
Nov 25th 2012, 14:11
Maximum income tax rate to be reduced.......................!
What another tax cut promise...................!
Do you really think that we are going to fall for this pre-election promise yet again or are you trying to rub salt in the wound gonzipn ?
Colin Camilleri
Nov 25th 2012, 13:15
It wont impact those who do not declare their income and pay no taxes!
jesmond zammit
Nov 25th 2012, 12:44
no vote pn.
mike fenech
Nov 25th 2012, 12:35
J.Tabone, you are 100 % right,if property tax is introduced the income tax can come down.To give everyone a fear tax system there should be NO TAX on your residence and property tax on any other property owned.
Joe Morana
Nov 25th 2012, 12:31
Adjusting the income tax threshold upwards for low income earners would help a greater number of low income citizens from falling into / risk of poverty status and therefore more socially equitable.
Apparently low income earners are in for a rough time!! Where are the Trade Unions???
Anthony Galea
Nov 25th 2012, 12:28
I think I should explain because it seems that many of you have misunderstood.... The tax cuts are offered to those earning UP TO 60,000 a year meaning if you earn more than this you are not legible to tax cuts, therefore all the comments about rich getting richer are pointless and void.
Lawrence Attard
Nov 25th 2012, 12:55
Mela minn jaqla e60,000 fqir?
J. Pace
Nov 25th 2012, 12:25
Haga ohra, hawn hafna nies anke studenti hergin mil-universita ta 22 sena li jaqaw taht 35% bracket. Ma jfissirx li dawn huma sinjuri. Hawn hafna nies li ma humiex sinjuri kif qedghin tghidu u jehlu bit-35% taxxa. Hafna drabi dawk li jehlu bit-35% huma nies li stinkaw u isegwu karriera u ma jkunux hawn jgergru fuq kull haga li jaghmel l-gvern.
Doreen Gatt
Nov 25th 2012, 12:56
Thank you J Pace. Jien wahda minn dawk li studjajt u hdimt u baghtejt biex wasalt fejn qeghda llum. Ma ghandiex xi paga ta barra minn hawn u lanqas jien sinjura. Imma ma dan il-gvern qatt ma hadt xejn ghax il-paga dejjem qabzet il-means test ghal kull incentiva! Imma mbaghad it-35% tikolli kwart mill-paga qeghda!
J. Pace
Nov 25th 2012, 13:12
@Doreen Gatt
U zgur dejjem taqbez 'mean test', allura ma tapplikax al incentivi tal-gvern. Imma n-nies ta hawn taht ma jsemmuhiex din!
Nirringrazzjaw l-alla li m'ahniex bil 45% + bhal pajjizi ohra, u elf haga ohra li ghandhom! U ngegru alla jbierek!
g t borg
Nov 25th 2012, 16:41
One should not forget that our highest tax rate used to be 65% before 1987 when it was unthinkable for a married woman to go and work. No separate computation existed. One should also keep in mind that it's true the highest rate was not reduced during this legislature but the AMOUNT OF TAX we are paying has reduced in no small amounts! Ask working parents who will be benefitting up to €840p.a.!
Shaun Camilleri
Nov 25th 2012, 17:48
@gt borg
in 1987 there were no capital gains tax, neither 12% property transfers tax.
Also, back in 1987 young couples did not take a 40 year loan to purchase a modest apartment. So you should start comparing like with like,
else keep your comments to yourself!
Doreen Gatt
Nov 25th 2012, 19:03
@ gt borg
What about us unmarried couples or married couples without children?!? When r we going to get a little bit compensated for all the taxes we pay?? The message d government is giving me is to relax take it easy and b as lazy as possible as that's d only way you get freebies in this country. Otherwise my hard earned money is going to maintain children with unknown fathers etc
R Axisa
Nov 25th 2012, 19:18
Naf irgiel li jhallsu bil-35% ghax il-mara taghmel part time job. Kieku l-mara ma tahdimx ihallas bil-25%.
G Bencini
Nov 26th 2012, 08:56
R. Axisa just for you to know ....ir ragel ma jehilx bit 35% jekk il-mara tahdem part time ghax hi thallas bil-part time rate ta 15% furq l-income taghha u tieghu ma tmissux.
Matthew Grima
Nov 26th 2012, 09:37
R. Axisa, if both partners work they should not opt for the married tax but keep paying as single, unless both earn a very low wage.
J. Pace
Nov 25th 2012, 12:20
Kull gvern ghandu cans 5 snin biex iwettaq il program elettorali tieghu. Bl-istess argument il PL fil gvern ghandu 5 snin cans biex iwettaq l-wiedgha tieghu u jrahhas d-dawl u l-ilma. Jekk ha titfaw t-tajn issa, dan ha jerga jigi fuqkhom 5 snin ohra meta PL jhabbar (jekk dejjem jhabbar) li ha jrahhas d-dawl u l-ilma.
Joseph Brincat
Nov 25th 2012, 12:15
Gonzi pn ,Maximum income tax rate to be reduced ???
that what he sad last election >> once bitten twice shy
Eve Axiaq
Nov 25th 2012, 12:10
Allura Gonzi minn fejn se ggib il-flus biex tpatti ta dan in-nuqqas ta dhul? Din il-mistoqsija ghamiltha inti stess gimgha ilu.
Alan Attard
Nov 25th 2012, 12:10
Finally an electorate promise being kept...
So the complaining starts...
Either because its too late in the legislature
Or
Because the people not benefiting from it are jealous of those who are...
Charles Cremona
Nov 25th 2012, 12:09
If Labour win the next election they are going to inherit the biggest budget deficit coupled with over 5 Billion of national debt and that is before any tax cuts that Gonzi PN gives away as an election sweetner. Like Cyprus they will probably have to go cap in hand to the EU for a bailout.
Nadya Debono
Nov 25th 2012, 12:07
It would be great for ANY government MAKE CONTROL over the collection of the taxes- there are many people who never declared the income at all-for example,cleaning the private houses or renting property undeclared for a number of years but who like to blame the government for everything and at the same time have a lot of public services like school and hospital FOR FREE!!!!!
Charles Spiteri
Nov 25th 2012, 11:58
PN minn dejjem kien partit tas-sinjuri u l-elitisti. Jibza' mit-taxxi ghax jolqtu lis-sinjuri
Mr Lawrence Mifsud
Nov 25th 2012, 11:57
Can someone please explain this?
Who will benefit from a reduction of the 35% tax: the rich or the poor? When the PL lambasts the PN for not keeping its promise, all the labour camp applauds in agreement - both the minimum wage earner and the wealthy.
Joe Borg
Nov 25th 2012, 13:59
the middle class will benefit ..... lower class pay miserable tax on WHAT they declare ... and right people afford to pay the current taxes.
D Portelli
Nov 25th 2012, 11:53
Who managed to work to get that income good luck to him/her and maybe it's good that they get a reduction of the tax as well.
But life was not always good with everyone and some never had the opportunity to get this type of income and will never have, I hope the goverment/whoever in power will think about these people as well.
Jon Briffa
Nov 25th 2012, 11:53
Dahk fil-wicc.
Michael Sciortino
Nov 25th 2012, 11:51
My comment on this proposed measure is the question asked by Dr Eddie Fenech Adami - 'Fejn hi l-kuxjenza socjali'.
victor borg
Nov 25th 2012, 11:43
To late now dear Prime Minister Dr Gonzi.Everybody knows how he is going to vote.
Victor Borg
Sarah Grech (Zebbug)
Nov 25th 2012, 11:43
Now that he is sure the budget will not be approved, he will promise anything. Isn't it obvious?
We all know by now that Franco Debono will not be supporting the government and that after next Wednesday we are going for an election. Now is the best time for the government to promise anything because he has a good excuse as to why he cannot keep his promises: FRANCO DEBONO.
Anthony Paul Naudi
Nov 25th 2012, 11:33
Ahjar jara il-penzjonanti li ghamlu tul ta' zmien ihallsu taxxi u bolol u fuq il-penzjoni ghadhom ihallsu it-taxxa.Il-penzjonanti li hadmu u hallsu tul zmienhom ghandhom jigu mehlusa mit-taxxa fuq il penzjoni. Rigward fuq dhul iehor allura t-taxxa ghandha tithallas.
A.P.Naudi
William Caligari
Nov 25th 2012, 13:41
Well, Mr. Anthony Paul Naudi,
I agree with you 100%, din mhux gustizzja li l-pensjonanti jigu intaxxati.
Ibqa cert li dan il-Gvern qatt ma jasal li jaghmel dan. Irrid ikun partit tal-
haddiema (LP) flimkien mal GWU li jaghmlu dan.
J. Scicluna
Nov 25th 2012, 11:30
WHY reduce the top brackets? Who will benefit if not the same limited number of people who have never had it so good in these years!
If you have the PEOPLE at heart you would raise the tax free cieling and benefit the "slaves" who have been carrying the weight of incompetence for the past years.
Andrew Scicluna
Nov 25th 2012, 11:25
Why reduce tax on who earns more than 60 thousand, this is upside down of what Robin Hood used to do in the old times!!!!!!!!!!!!!!!!!
Nicholas Mamo
Nov 25th 2012, 13:04
You've got to be kidding me. Why not read the article before posting? To save you time, I'll just quote what's written: "The pledge, made before the 2008 election that helped the PN secure a third term, had proposed slashing the top income tax rate from 35 per cent to 25 per cent, up to a maximum income of €60,000."
Joe Borg
Nov 25th 2012, 14:00
read the article again ....
Mario Ellul
Nov 25th 2012, 11:19
Anyone remembers the wolves tale? Well here's a typicical example. No one believes you anymore GonziPN. It really looks like you are desperate to get back votes now but its a little bit too late I am afraid.
Lawrence Attard
Nov 25th 2012, 11:12
Onor Franco Debono il mazz f'Idejk. Abli inti tgawdi minn din il mizuri jekk titwettaq,ha tivvota favur il budget? Austin Gatt se jirrezenja dik innhar tal vot tal budget bl iskuza li se jiehu l kampanja elettorali tal pn fidejh. Wara l paroli li ghamilt jekk jigri hekk se tivvota favur?
John Mifsud
Nov 25th 2012, 11:10
News such as this puts more salt on the wounds of pensioners,workers etc. who are at the foot of the economical ladder.
I hope that in this budget, the government will at least come up with a financial formula to at least make better the lives of lower paid workers & pensioners, especially those pensioners(couples) with one pension who are in difficulty to make ends meet with a two thirds pension
Roger Mifsud
Nov 25th 2012, 11:08
Gimgha ilu Gonzi wissiena kontra "populist" politics. Din tat-taxxi x'inhi? U Fl-Independent tal-llum il-Hadd, Tonio Fenech qed jghid li l-budget mhux ghodda tal-elezzjoni, izda ghodda tal-ekonomija. Jafu x'inhuma jaghmlu? U kif ser inaqqas it-taxxi llum, meta l-ewro hu fil-periklu li jisfaxxa, u mhux wara l-elezzjoni tal-2008, meta kollox kien ahjar, u ma kellniex id-dejn li ghandna llum?
John Dee
Nov 25th 2012, 10:58
The "haves" shall have more and those without will stay without ! Pandering to the wealthy again.
Ethelbert Schembri
Nov 25th 2012, 10:57
HAHAHAHAHAHA ... one cannot but laugh at these pre electoral gimmicks, especially coming from this joke of a government !!
Joseph Borg
Nov 25th 2012, 10:54
ELECTION GIMMICKS!!! Il-Malti m'ghadux daqshekk cuc ta Tonio!!! Troppo tardi!!! U xi nghidu ghaz-zghir?...ir-rati taghhom ha jintmissu wkoll??? Halluna tridu!
francois esteva'
Nov 25th 2012, 10:47
Maltese promises LOL LOL LOL LOL i believe that when i see it, as Malta gives with one hand and grabs with both if not feet and all., very hard for them to part with their money.
Hans Weber
Nov 26th 2012, 11:33
Monsieur Francois Esteva welcome to the Maltese way of life, but somehow with the eu budget due next year Britain amongst others will change all that, things are going to be different for Malta, less take (receive)(and give more/dish out more).
Victor Laiviera
Nov 25th 2012, 10:43
The Promise that is always fresh because it is never kept .....
Does the PN REALLY we are this stupid?
Nadya Debono
Nov 25th 2012, 12:11
On which way it will affect the poor people? For your information, some of the "rich" people are those who are educated and have a good job. It easy for many of the people in Malta where the university education IS FREE for Maltese not like in the rest of the world!
Rosie Caruana
Nov 25th 2012, 15:31
Well now Mr.Laiviera people as yourself voted for this guy so whats the problem, surely most Maltese knew that most do not keep a promise after they are elected, so now that the bed is made, the people who him in must lie on it untill the next time, when i hope he is booted out as a waste of space.
D Zammit
Nov 25th 2012, 10:42
the rich get richer and the poor get poorer.........
Alan Attard
Nov 25th 2012, 12:03
And the rich bring business which the poor benefit from... I guess you probably think they the credit crunch hit the small people the most...
Joe Borg
Nov 25th 2012, 14:01
if you think that by earning 30k-60k you are rich you are wrong!
Charles J. Buttigieg
Nov 25th 2012, 10:41
Tini sitta u ntik sold.
Charles Muscat
Nov 25th 2012, 11:41
100% profit. That's not bad whats wrong with you?
J. Tabone
Nov 25th 2012, 10:40
Reducing income tax would be great if they would introduce Property Tax. I don't understand how the working man who declares their income gets taxed on it as well as any interest they may get from the bank, while people who keep all their money invested in property don't pay a cent. Unfair... but i would assume most of those in politics own quite a bit of property.
M Formosa
Nov 25th 2012, 11:35
As in other countries in the EU and speaking for myself in Canada, property tax paid covers all municipal expenses such as infrastructure, garbage collection, and so on. Had this tax be introduced in Malta, would you really think the money will be spent wisely by the local councils? It would be great if they did like in other countries and have every nook and cranny on the island spotlessly clean.
Charles Muscat
Nov 25th 2012, 11:46
I don't quite understand your comment about tax on property and I like to know. Did you mean
the income from property? If this is the case money derived from property is declared one would think.
Mark Shaw
Nov 25th 2012, 12:30
@ J.Tabone, That has got to be the best statement i have read so far!!
Rosie Caruana
Nov 25th 2012, 15:36
Yes mr.Tabone, i hope you are right as i agree 110% with your comment, if only the people that invest in property and make a fortune would also be fair and pay their dues same as most of us do, funny really why is Gozo always comes to mind, i am sure the tax man would a field day if property developers and property owners were to open up and come clean., not ALL FOR ONE AND NONE FOR ALL eh.
R Axisa
Nov 25th 2012, 10:38
Gimghatejn ilu Gonzi qal li ma wettaqx din il-weghda ghax kien onest. U issa??? U skont ma jsaqsi hu stess, minn fejn se jgib il-flus???
D Borg
Nov 25th 2012, 10:26
do not reduce the max tax rate - but increase the tax free bracket
Thus helping those who are much more needy.
Dunstan Crockford
Nov 25th 2012, 10:48
Hear ! hear!!! That`s what we all need!!
Gordon Farrugia
Nov 25th 2012, 11:56
A good point. Even J. Tabone raised a good point on property tax. You guys need to get elected ;)
Joe Fenech
Nov 25th 2012, 10:25
A bug gift to the rich !
Joe Fenech
Nov 25th 2012, 11:54
big
Joseph Micallef
Nov 25th 2012, 10:21
GonziPN not to be trusted! GonziPN lies. GonziPN daħaq bik u se jkompli jidħaq bik. GonziPN needs to go down into the dustbin of history for ever!
Joseph Micallef
Nov 25th 2012, 10:20
Ohhhh pooor GonziPN!!! How pathetic!!! Is he treating us like fools? He promised such cuts before 2008 elections!!! How come he is 'promising' once again such cuts? They should have been in place for more than 4 years!!! SHAME on GonziPN. Seeing maneuvers like these, make me even more certain that I need to vote for Partit Laburista.
GonziPN wegħdi = gideb.
V Mercieca
Nov 25th 2012, 10:37
And I guess that after the election, IF GonziPN wins again the elections he will tell us that the economy is not good or some other excuse not to reduce the tax rate.
He wants Muscat to tell him from where he is going to get the money to reduce the water and electricity bills.
Reducing the tax rate is a more expensive excercise. Gonzi please tell us where you will be getting the money?
S. Farrugia
Nov 25th 2012, 10:11
As usual the laws are made to be suitable for the upper class...... what about those individuals who earn less, we can assume who earns up to 60,000
Joseph Apap
Nov 25th 2012, 12:42
Those people who earns between 25,000 and 60,000 are they poor
and if one had to compare today's taxes with the ones we had before 1990 when if you earned Lm 800 you would be taxed 65% 13shillings in the pound
We are far better off to-day especially for people who save and pays only 15% tax on interest
The government should start classes for bread winners how to manage their income
Deo Catania
Nov 26th 2012, 12:35
Joseph Apap, how many workers earn at least 25,000 a year? just shut up will you? and stop being a gonzipn puppet.
Gejtu Schembri
Nov 25th 2012, 10:03
Jekk veru minn meta se jibda jghodd it-tnaqqis? fil-2008? 2009? 2010? 2011? 2012? jew fit-2013 meta jkun gie elett gvern ġdid? Ghax jekk it-tnaqqis se jibda jghodd mit-2013, dan il-gvern ma jkunx wettaq il-wedgha elettorali tieghu ghaliex it-tnaqqis se jagħmel tajjeb għalih gvern ġdid f'leġistratura oħra.
saviour frendo
Nov 25th 2012, 10:02
Maximum income tax rate to be reduced!!!!!!!
NOW.?????????......TELL IT TO THE MARINES TONIO....
William Caligari
Nov 25th 2012, 10:02
" In-come tax cellings are not expected to be raised........."
Mela min ha jgawdi min jaqla hafna, ghalija tista ma taghmel xejn.
Charles Muscat
Nov 25th 2012, 11:50
Get a job and you should be happy.
Joe Borg
Nov 25th 2012, 14:03
get a better wage job and you will gain too ... but you have to work HARD for it
William Caligari
Nov 25th 2012, 16:47
Charles Muscat,
"Get a job and you should be happy"
Mela wara li tiehu l-pensjoni mur fittex job iehor,
qeghdin sew.!!!!!
HENRY FENECH AZZOPARDI
Nov 25th 2012, 10:01
Such promises may have a counter effect on the EU BUDGET finances. How can the Government deduct revenue and at the same time pledge more funds from the EU. In my opinion let the PL repeat the same claim of the PN not keeping its promise of reducing tax but do not risk losing on the EU funding.
Such a measure can only materialise when the EU stops funding Malta because of its fiscal stability.
V. Cauchi
Nov 25th 2012, 10:01
It is wrong for anyone to draw political mileage if we do not get our figures right. We cannot draw comparisons unless we take into account inflation. Nor can we ignore the fact that the lower-income base has to supply the greatest percentage of tax due to its wide, numerous base. Some new radical thinking on tax structure, not just playing around with levels, would certainly be more votecatching.
Warren Scicluna
Nov 25th 2012, 10:00
Another case of too little too late.
Anthony Mizzi
Nov 25th 2012, 09:59
Not again!
Who are they trying to kid? Fool me once shame on you, fool me twice shame on me!
SHAME for "trying" to fool the electorate with pre-electoral pledges which your track-record IS ON RECORD, that these pledges are not kept!
Wil you "Budget" for a €600 a week salary rise for the Cabinet AND BE OPEN ABOUT IT this time?
anthony sultana
Nov 25th 2012, 09:56
When you are about to drawn, you do anything to save yourself.I say why did you put yourself to such a risk in the first place?The people now adays are well educated, will they notice the trick.Anyway but it is good news For certain the cost of living is going to explode on the detriment of the poor.But if GonziPN want to creat a chance to win next election he have to wear the Santa Claus dress.
mark borg
Nov 25th 2012, 09:56
min fejn se igiba Tonio id differenza? ha nsaqsik wahda kif xbajt isaqsi int kull meta jiftah halqu xi hadd min tal PL ?
Alexander Genuis
Nov 25th 2012, 09:52
Mhux xi weghda bhall l-Fabbrika Braziljana hux?Jaqaw gejja l-elezzjoni???Min fejn se jigu l-flus??????????Mela erba snin naqalaw u issa Jigi qabel l-elezzjoni jbellalna r-ross bil-labra!!!!!!!!!
Mr Alexander Azzopardi
Nov 25th 2012, 09:40
Il weghdi mhux twetaqom gimghat qabel ma thabar elezjoni generali imma meta il
Poplu jtelak fil gvern.
Paul Caruana
Nov 25th 2012, 09:20
Surely it would have been more just to increase the income thresholds for switching from 0 to 15 to 25 to 35% income tax rate, rather than just reducing the top 35% rate, from which only the relatively well off will benefit, but not those earning lower wage of say 19 000 euro per annum or less?
Jonathan Camilleri
Nov 25th 2012, 09:12
What measures does PL think are out of proportion and why doesn't this article include them? why the heck is it being silent?
Alexander Genuis
Nov 25th 2012, 10:00
Missek ssaqssi Ghala din il-weghda ilha erba snin nistennewa??Ghala issa?Ghax gejja l-elezzjoni???Dawn missek ssaqsi,din il-weghda il-PN weghdilek mhux il-PL!!!!!!!!!!!!!IIl-PL diga qal,jekk il-Budget ma Jghaddix u l-poplu jghati mandatt lill PL mizuri tajbin jwettaqhom.......................jzommhom!!!!!!!!!!!!!
Mr David Ganado
Nov 25th 2012, 12:35
Do we need a 'genius' to explain to this guy that the financial situation in the world meant some budget measures necessitated being put on hold? Even if the government does try implementing them now it will only do so gradually.
Just because you promised your spoilt child an expensive toy for Christmas, it does not mean you will buy it anyhow if you loose your job just before Christmas!
Jonathan Camilleri
Nov 25th 2012, 09:11
How will the tax cuts affect the income from taxation?
Please choose the reason of your report below: