Tax expensive cars, yachts – Communists

On the eve of the Budget, the Communist Party of Malta has today called on the government to introduce a tax on expensive cars, apartments, yachts, and all other inessential products.

The Communist’s also urged the government to ensure a “just and sustainable” income tax system, and in a brief statement it appealed for a tax to be levied on all products not considered as essential.

Often levied through an indirect tax, a luxury tax tends to imposed on those with higher spending power and used to ensure greater redistribution of income and a stronger welfare state.

Party secretary Victor Degiovanni said the government should increase the national minimum wage and the basic minimum pension to effectively address poverty. Similarly, the party said, the budget should address social and housing inequalities.

“Progressive measures and fiscal policies to regulate the property sector are a must,” he said. The party also said that a tax should be levied on individuals owning more than three properties to tackle the problem of vacant properties and tax evasion in renting of properties.

Moreover, the Communist Party said measures and fiscal policies must be implemented to regulate the property sector. Additionally, it said, the government should endorse policies to re-nationalise essential commodities and services to tackle social inequality.