Developers still awaiting implementation of Budget measure

The Malta Developers Association said today that it could not understand how a measure announced in the Budget speech last year to change the system where the Inland Revenue Department sends its own architects to estimate the value of a property after a transfer has still not been implemented. "Two weeks before the government is due to present yet another Budget, the current situation is that the system, that was promised to be changed, has stayed the same for a whole year, with the injustices it causes for the buyer and seller of property," the association said. It said the draft legal notice that was meant to implement this measure has been ready for months but this has not been approved for publication due to bureaucratic obstacles. "This is a cause of great concern, considering that it is the declared policy of the present administration to eliminate bureaucratic obstacles that are slowing down the rate of economic progress that everyone hopes for," it added.