Finance Ministry

A Finance Ministry official on Monday confirmed that the Government was against ‘green’ tax on air and sea transport.

Proposals for the tax were put forward in the context of climate change whilst many other tax related issues were also referred to.

The official confirmed that the ministry is working on a draft of a new tax bill that it plans to table for voting in November.

Meanwhile ad hoc committees have been set up to review property valuations, and are scheduled to complete their work by May 2020. Reduced taxes on business taxes will create more space to benefit lower- and middle-income households.

The ministry has sent a plan for the management and reduction of the state’s obligations to the private sector – currently totalling 2.3 billion euros – which focuses on reducing them without creating more debt. On another issue, that of managing banks’ NPLs, the ‘Hercules’ plan proposed by the government has been well received by the IMF and sent to the institutions for review before tabling in parliament.

Finally, the ministry official said there will be no changes in the tax-free amount or in pension totals.


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