Tag: Ministry of Finance
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Government collects more taxes in 2024, but expenditure is also also up
The government has collected more taxes in 2024 compared to 2023 mainly in income tax and VAT. Income tax collected in 2023 amounted up to €2.45 billion with income tax collected in 2024 up to €2.85 billion as of November. VAT collected in 2023 amount to €1.28 billion and rose in 2024 up to €1.77…
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Some good news on debt, but still not exciting
Finance Minister Clyde Caruana has fulfilled his pledge of collecting more taxes and clamping down on tax evasion. The results are positive, objectively speaking, in terms of collection, but they may not necessarily reflect increased economic growth either. According to the latest NSO figures: Between January and November 2022, Recurrent Revenue amounted to 5,107.6 million,…