Finance Ministry ‘reasserts commitment’ to deliver 2014 budget

In a statement issued through the finance ministry, the government reiterated its commitment to implement all measures announced in the 2014 budget.

The ministry’s comments come in wake of reports published by MaltaToday on Sunday revealing the finance ministry had backtracked on government architects and applied a 15% final withholding tax on residential properties for rent.

“The Finance Ministry wishes to reassert the Government’s firm commitment to implement all the measures announced in the 2014 Budget,” the ministry said.

“These measures include the development of a mechanism which will be able to aid the evaluation of properties with the least subjective intervention by the authorities or the ex parte architect.”

The ministry said the same applied to the implementation of an optional 15% tax on income derived from rent on residential properties, the introduction of a third pillar pension and other budget measures which are being rolled out from time to time.

“The Government remains committed to deliver on all the measures announced in the 2014 Budget without exception.”