The Ministry for Finance and Employment has released a Press Release in relation to the repayment of taxes that were eligible under the Tax Deferral Scheme. Link available at: https://www.gov.mt/en/Government/DOI/Press%20Releases/Pages/2022/05/11/pr220596.aspx
In brief, the Press Release stipulates that:
- Payments will have to start being affected as from this June 2022 and end December 2024.
- There will be a maximum of 30 equal payments for all this period. If a company/self employed wants to make any extra payment, that is acceptable but at least one monthly payment has to be made.
- If the applicant fails to make a payment, the contract will fall and interest will be charged as from the first day the applicant applied for the scheme.
- During this period the applicants have to continue to pay any arrears and also the current tax.
- CFR will be holding information sessions with stakeholders to explain this procedure