A total of €1.9 billion in undeclared assets have been regularised through various schemes offered by the government since 2002.

The Finance Ministry last Saturday announced that €455.8 million of undeclared assets were registered in the scheme that closed at the end of November.

Finance Minister Edward Scicluna had described that figure as “surprising”, given that so much had already been collected from previous schemes.

The amount registered can be put into some context by comparing it with the total household financial wealth as calculated by the Central Bank of Malta: €17.4 billion in 2013, representing currency and bank deposits (€9.4 billion), interest-bearing securities (€2.7 billion) and shares (€2.7 billion). To that figure must be added property owned by households.

Read more in Times of Malta.

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