Consult before overhauling Malta’s tax system, Grech urges finance minister
The government has failed to consult key stakeholders on its plan to overhaul the country’s tax system, opposition leader Bernard Grech said on Wednesday.
“There are stakeholders, important stakeholders, not just the opposition, who have yet to be consulted on this new tax plan that the government has announced it will put in place,” he said. he says, adding that consultation should be taken seriously when it comes to matters of national importance.
Finance Minister Clyde Caruana Caruana announced last week that Malta’s tax system would be scrapped and a new one installed by 2025.
The move comes as the international community seeks to crack down on corporate tax havens, introducing a global minimum corporate tax rate which Malta has also pledged to implement.
While the international plan would only impact large multinationals, the fear of financial services players is that it will eventually be extended to all companies domiciled in countries that are not those where they do most of their business. .
Grech said it’s an issue that will impact employers, employees and the broader economy. Reforms in this sector must be transparent, he said.
The leader of the PN was speaking during a meeting with the Chamber of Commerce which saw the business community specify what they expect from the opposition during the next legislature.
A change of PN brand?
Speaker of the Chamber, Marisa Xuereb, detailed what the members of the organization consider to be the main priorities for the next legislature.
Politics and policies today, she said, are far from visionary.
Politicians also had to be “consistent” to win the trust of the electorate.
Xuereb also suggested that the PN invest in a branding initiative.
A sense of identity, she said, is key to engaging with your target audience.
“Companies spend a lot of money and time working on their brands, and political parties need to do the same. People need to feel like brand ambassadors,” she said.
Xuereb also looked at the financial situation of political parties, saying it would be good if they published their accounts like companies do.
The PN are in a difficult financial situation and Grech announced last month that he was 32 million euros in debt.
On party-owned media, Xuereb asked what would happen to the other if one were to fold, since they were set up on the principle that one cancels the other.
Above all, the opposition was expected to be credible, constructive and coherent.
One in five members of the electorate, Xuereb said, did not vote in the last election because he felt neither party was credible enough.
There are key issues on which politicians are not deemed credible and there are major challenges facing the country that need to be addressed.
Independent journalism costs money. Support Times of Malta for the price of a coffee.