(MALTA) Institute of Taxation Report: Any amnesty or other prescribed or conventional mechanism which effectively rewards defaulting taxpayers, is patently inequitable and should not be entertained, much less promulgated and implemented, two institutes warned on Saturday #AceNewsDesk report

#AceNewsReport – Nov.14: The Malta Institute of Taxation and the Institute of Financial Services Practitioners were reacting to a new measure that allows those with tax arrears due by January 2021 to pay any tax due on the transfer of property purchased before March 2021 against their arrears.

#AceDailyNews says according to a Times Of Malta Report: Amnesty which rewards property tax defaulters ‘endorses unlawful behaviour’

The measure has also been criticised by the Malta Chamber.

The warning against the amnesty comes from two entities. File photo.

The institutes said in a statement that, if at all possible, the injustice inherent in this amnesty is all the more nefarious as the rules apply selectively favouring defaulting taxpayers who own immovable property situated in Malta acquired on or prior to March 31 and who choose to dispose of such property before the end of this year. “Why the government has seen fit to promulgate these rules at the current time is beyond our comprehension,” they said. They added that since Malta was greylisted earlier in the year, both institutes have been actively participating in and contributing to national efforts to procure Malta’s…

#AceNewsDesk report …………..Published: Nov.14: 2021:

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#financial-services, #malta, #taxation