On 9th October 2017, the Minister for Finance, Edward Scicluna presented the Budget for 2018. In this budget no new direct or indirect taxes were introduced, existing ones were left untouched.
Major issues of budget for 2018 are following:
- Workers will get an additional day of vacation leave with wage increase of €1.75 per week,
- Tax refunds will be issued between €40 and €64,
- Pensioners will get additional €2 per week,
- Pensioners non-taxable tax limit increased to €13,200,
- Enhanced financial aid for orphans, widows and adoptive parents,
- VAT threshold increased for small enterprise to €20,000,
- Individuals may enjoy tax relief who earns less than €60,000,
- Buyer of motorbikes, scooters, and bicycles with an electric assist motor may enjoy VAT rebate of up to €400.
