Committed to assist local business – Deputy Prime Minister

  Deputy Prime Minister Louis Grech and Parliamentary Secretary Ian Borg have this morning participated in yet another public consultation session at Castille with the members of the public. Mr Grech insisted on the importance of such an initiative were the public had the opportunity to speak and voice their concerns directly with the cabinet members. He said that these sessions were specifically organised in the beginning of the legislature so that the government would be aware of the public's suggestions. Mr Grech said that the Government has decided to introduce a flat tax rate of 15 per cent on the rent of residential properties. 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 added that  the Government would continue to offer the Jeremie Fund which was made available with BOV to assist local businesses as well as micro invest schemes. Mr Grech,  was accompanied by parliamentary secretary for EU funds Ian Borg who also addressed those present.