Businesses are being given time to settle their VAT arrears while those with car licences still to pay are being given time to regularise their position.
There are businesses that wanted to settle their VAT arrears but encountered difficulties because of the amount of fines they had accumulated.
The scheme is giving people a year to regularise their position with regard to arrears. It is open to those who had to file a VAT return by October 15 but failed to do so or those who have some arrears to pay.
These have to file their missing returns by January 15. They will then have 12 months within which to pay the arrears due with a reduction in the amount of fines and accumulated interest, depending on how long it takes to settle the sum.
More details will be published in a legal notice. The Finance Minister made it clear that the scheme was only applicable to the arrears accumulated until yesterday. This forms part of the government’s efforts to strengthen fiscal enforcement.
Moreover, returns due from today have to be sent on time and with payment in full.
Another amnesty affects those who have pending licence fees or administrative fees related to cars and gives one the possibility of paying a fine rather than the full amount.
Those who disposed of their vehicle and did not inform Transport Malta will be able to regularise their position by paying a penalty of €125. One can decide to scrap the vehicle and pay the same penalty.
Those who garaged the vehicle and did not return the registration plates will be able to pay a penalty of €125 and half the licence payments due.
Whoever has a vehicle but has pending payments and wishes to continue using it on the road will be able to do so by paying the licences due and paying €125 penalty. The scheme will open for one year on January 1.