malta budget report 2002 malta budget 2003 malta budget 2002

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ENVIRONMENT FRIENDLY TAX MEASURES

Electrically-driven vehicles

Currently: Registration Tax on hybrid vehicles (consuming fuel & battery energy): 16.5%

Measure: Completely electrically-driven vehicles will be completely exempt from Registration Tax and exempt from the Valletta entry-permit tax for the next 5 years.

Products that benefit the Environment

Aim: To encourage use of environment-friendly products.

Measure: Reduction of mport duties as follows:

• Recycled paper & bleach-free paper: 0%;

• Degradable refuse bags: 6.5%;

• Shopping bags manufactured from recycled paper & carton: 3.7%;

• Consumption-reducing electricity bulbs: 2.7%.

Road License for Battery Operated Mopeds

Measure: Removal of road license for battery operated mopeds.

Incentives for improvement of property registered under Voluntary Registration Scheme: Valletta, Floriana and Cottonera

Context: National average vacant/dilapidated tenements: 6% of residential units

• Senglea, Cospicua: 11%

• Valletta, Vittoriosa: 26%

• Floriana: 15%.

Aim: To incentivise applicants of Voluntary Registration Scheme to rehabilitate their tenements.

Measure: Refund of VAT payment on cost of works requiring Full Development Permit from MEPA.

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