An extension of the first- and second-time buyers’ scheme, an increase in the tax-free threshold for VAT-exempted businesses and an extension of the wage supplement are just a few of the headline figures to come out from Monday night’s Budget announcement.

Finance Minister Edward Scicluna delivered his eighth Budget speech, which he described as concretely proving to the public that Malta's surplus has served as a vital tool to safeguard the country from disruptions caused by COVID. 

Next year’s Budget has been largely praised by trade unions, however The Malta Chamber and the SME Chamber have both lamented a lack of long-term planning and called for further assistance to help businesses through the storm.

The below is a concise presentation put together by ARQ Malta, a leading corporate advisory firm on the island, with the Budget’s headline figures:

ARQ Malta Budget 2021 Highlights