The Malta Developers Association has called on the government to implement a Budget promise to change the way newly purchased property is valued.

Under the present system, the Inland Revenue Department sends its own architect to estimate the value of a property for taxation purposes. The government had said it would change the system so that purchasers can engage their own architect for the purpose.

“Two weeks before the government presents yet another Budget, the current situation is that the system has stayed the same for a whole year, with the injustices it causes for the buyer and seller of property,” the association said.

It said it was informed that the draft legal notice had been ready for months but this “has not been approved for publication due to bureaucratic obstacles”.