%201.png){kind=small}
1% next year, as Government substantially increases its energy support measures. Meanwhile, the annual inflation rate for 2022 is anticipated at 5. 7%, after which it is expected to decrease to 3. 7%, with energy price inflation remaining contained. Finally, for 2022, unemployment is set to remain low, projected at 3. 1%. Income & Other Taxes The main income tax measures include a number of initiatives targeting pensioners, such as an adjustment to the income tax rates, to ensure that increased pensions continue to fall within the tax free bracket. A reduction in income tax rates for authors and a tax credit for parents of children with disabilities will be introduced. There will also be an increase in the tax deduction for parents whose children attend certain extracurricular activities.
Malta Budget 2023Malta Budget key highlights Welcome to the Malta Budget Highlights for 2023. This budget contains measures aimed at sustaining economic growth in a post pandemic environment against a volatile global economic and geopolitical backdrop. It also introduces various environmental and sustainability related measures. COLA €9. 90 and pensioners to receive an additional €2. 60 Non-taxable pension income threshold to increase to €14, 968 Mental health care beneficiaries to be credited with 2 years of Social Security Contributions A €600m fund allocated to counteract rising energy and cereal prices €10k grant for qualifying first time buyers Income tax on royalty income for authors to decrease from 15% to 7.
5% Tax refunds of between €60 and €140 to be reissued One-stop shop for start-ups to be launched in 2023 and incentives for digitisation projects Extension of 1. 5% reduced stamp duty rate on transfers of shares in family businesses Implementation of masterplan to enhance the aviation sector Extension of up to €12k grant for new electric vehicles Increase to €300 on tax deduction to parents for children's sports, arts and cultural activities. €200 annual tax credit for parents of children with disability Performance of the Economy Following robust economic growth in 2021, Government is projecting GDP to increase by 6. 0% and 3. 5% in real terms in 2022 and 2023 respectively. Against this backdrop of significant economic growth, the debt-to-GDP ratio is expected to amount to 57% of GDP in 2022, increasing to 59.
Social Measures The Budget caters for a number of initiatives aimed at improving the overall well being and standard of living of people with different social needs. The cost of living adjustment for 2023 amounts to €9. 90 per week and that for pensioners will amount to €12. 50 per week. Certain measures increase or improve pension benefits, whereas others are targeted at providing assistance to the elderly, the vulnerable, and those suffering from certain health (including mental health) issues/ chronic conditions. Other social measures include an increase in the paternity leave, assistance for those who wish to purchase their own property, investment in public bodies (such as the police force and the civil protection), increase in certain social benefits, grants, allowances and tax credits for parents of children with disabilities and an increase in the children's allowance.
Malta - Friendlies: Football Scores & Highlights - 16/02/2023
Malta vs Luxembourg Live Stream & Prediction, H2H - Sporticos