15% flat rate on rent of residential properties - Louis Grech

The Government has decided to introduce a flat tax rate of 15 per cent on the rent of residential properties, deputy Prime Minister Louis Grech said this morning. The announcement was welcomed by applause by the audience that gathered at the public consultation session at Castille. Currently, the rent tax rate can go up to 35 per cent and has resulted in rampant tax evasion. Mr Grech said he expected more people to declare their rental income following this change, which would include harsher penalties for those who fail to declare their income. He also said the Government would reactivate the Jeremie Fund to assist local businesses as well as micro invest schemes. Responsible for EU affairs and the implementation of Labour's electoral manifesto, Mr Grech said the Government would in the coming months implement its pledge to publish draft laws online to encourage feedback from the public. This would be done hopefully by December, he said, adding that the Whistleblower's Act should be delivered before Parliament's summer recess. Mr Grech, who was accompanied by parliamentary secretary for EU funds Ian Borg, said Malta's EU presidency in 2017 would create employment for tens of...