Cruise liners will be allowed to open casinos.

Businesses will be heaving a sigh of relief after a number of long-promised measures materialised.

The government will be setting up a border agency to deter fiscal evasion and illegal importation, thereby levelling the playing field for all operators.

This has been on the agenda for some time as the Malta Chamber of Commerce, Enterprise and Industry has been complaining that merchandise was being brought in without being subject to the normal checks. The agency will be operated by the Armed Forces of Malta and incorporate the current Revenue Security Corps.

The government will also allow cruise liners to open their onboard casinos while in port – as long as they stay overnight.

To encourage more vessels to berth in Gozo, those that cross over to the sister island will not have to pay tax on the casino revenue.

The transfer of shares between members of a family will be subject to incentives, part of a more comprehensive Family Business Act. The law is aimed at recognising the key role played by family businesses in Malta.

Those who have shops in government-owned properties in Valletta will be given the option of a lease, rather than a rental, in an effort to increase uptake and eradicate present illegalities.

Those that cross to Gozo will not have to pay tax on casino revenue

The government hopes leases will give them increased certainty in their title and encourage them to invest more.

At first, the scheme will be open to recognised tenants and leaseholders and eventually to those where the tenant or leaseholder are not the actual operator of the outlet.

Eventually, the scheme will be extended to other government-properties in other localities.

The government is also trying to help with access to finance. It will amend the income tax law to provide tax credits equivalent to the investment made in start-ups, up to a maximum of €250,000 a year.

The existing legal notice for venture capital – which has never been exploited – will be tweaked to make it more relevant, in the hope of generating more usage.