As a follow-up to the Budget 2015 Speech proposal whereby it was stated that the Government is aiming at furthering a National Strategy towards Electronic Payments in order to combat tax evasion and money laundering avenues, GRTU members were given an overview of an FIAU (Financial Intelligence Analysis Unit) proposal limiting cash transactions.
The measure is intended to:
a) Reinforce Malta’s Anti-Money Laundering Framework
b) Cut down on cash hoarding
c) Potential reduction in crime (e.g. hold-ups, etc.)
d) Combating Tax Evasion
e) Increasing Payment Traceability
f) Ensuring a more efficient and safer payment environment
The proposal is to make cash transactions above a specific amount decided upon by the Finance Minister illegal. The amount is to be no more than €15,000, however the proposal being put forward sets the limit at €10,000. This refers to cash transactions which are single transactionsbut also if they are linked transactions. Anyone caught contravening shall be fined between 15% and 40% of the amount exceedingthis said threshold. There shall also be an obligation upon which a subject person who knows or suspects of such transactions in cash has to inform the respective authorities immediately.
GRTU members are asked to send their feedback to GRTU or inquire for further information on by not later than 13th July 2015. This will allow GRTU to include this in its feedback.
President Marie Louise Coleiro Preca opened the MCAST 2015 Expo which also launched its Course Prospectus for the upcoming scholastic year with 163 courses starting next October. MCAST CEO Stephen Cachia explained how MCAST would now also be delving into the Performing Arts and seeking to advance courses at Masters Level (MQF 7) in the near future. The MCAST EXPO, being held at MCAST Paola until Saturday 27th June, is aimed at offering visitors a taste of the MCAST learning experience.
An info session by Malta Enterprise (ME) on the Certify Tax Credit Scheme was hosted by GRTU this week.
The scheme is intended to offer a financial incentive for undertakings to improve the quality of their products, services an processes through the attainment of recognised quality marks, certifications and licenses. The maximum amount of the tax credit is 50%of the costs up to €25,000 (less for some specific certifications) which can utilised over a maximum of an additional two years after the year in which the certification is obtained.
The scheme covers ME approved certifications, namely: CE Marking; Halal Certification; GMP; Good Clinical Practice; ISO 9001; ISO 14001; ISO 50001; ISO 22000; ISO/TS 16949; HACCP; and ANSI/UL 61010-1. The deadline for
these is the 31st December 2017. Other certifications may be applied for but first need to be approved by ME. The application for such approval closes on 30th June 2017. Eligible costs include consultation and certification costs.
Enterprises are encouraged to inquire for further information by contacting GRTU on 21232881 or " title="">
The pensions strategy seeks to incentivize savings in voluntary pension schemes and working beyond retirement age. It also maintains the present retirement age of 65 and rules out increasing social security contributions as well as compulsory second-pillar pensions, which are supplementary pensions paid by employers and employees.
He strategy is built on the principles that state pensions should be a solid source of income for pensioners, but should not be the only one.
It also sought to strike a just balance between the amount of time in which
contributions are paid and the amount of time benefits are received, and to reform the system in such a way that it would be capable to evolve to address future developments.
The strategy includes a total of 27 recommendations, divided into four
categories:
reforms addressing social needs and issues related to society and work;
reforms addressing the sustainability of the pension system;
reforms to encourage saving up for complementary pensions; and
reforms to address the problems faced by those who are already pensioners.
At present, those born on 1962 or later are required to make 40 years of social security contributions to be entitled to a full pension, but the reform proposes that those born on 1965 or later should contribute another year.
However, the proposed reforms would also increase the contributions credited to those who stop working to take care of their children, up to
5 years for their first child, 4 years for their second and 3 years for their third.
It would also credit full-time studies in courses which are MQF Level 5 (undergraduate diploma or certificate) or higher. Three months of contributions are to be credited for every year of studying MQF Level 5 (undergraduate diploma or certificate) or 6 (bachelor’s degree) courses, going up to six months per year of Level 7 (master’s degree) courses, and a full year for Level 8 (doctoral degree) ones.
Those entitled to retire between the age of 61 and 65 could improve their pension by up to 12% if they continue to work and forego their pension while they do so. Pensions could be improved even further if people keep working without receiving a pension beyond the age of 65.
At present, only those born on 1962 or later are entitled to a guaranteed national minimum pension (GMNP), but the reform proposes gradually extending this to older people, addressing the most vulnerable pensioners first. Those who would be 76 or older on 1 January 2016 would start receiving the guaranteed national minimum pension next year, and this would become universal by 2027.
The proposed pensions strategy is now open for public consultation and documents can be accessed through the following link: http://bit.ly/1exi9RL
Feedback can be sent by 17th July 2015, either by email on
GRTU President Paul Abela has attended the 104thInternational Labour Organisation conference. The ILO conference brings together tripartite delegations which include governments, employer and worker delegates from the organisation’s 185 member states. Through these meetings the delegates reached a consensus on the need of a comprehensive policy framework and pro-active growth strategies, both at global and national levels. The twelve day plenary focused on addressing issues that affect the
working lives of millions all over the world and promoting SMEs as creators of productive employment. The conference also focused on wages, health and safety, working time and maternity protection with lies at the heart of the ILO mandate and of all delegates present.
In a launch conference bringing together various stakeholders and representatives of all the MCAST Institutes and Centres, MCAST has launched its plan ahead through the setting up of three colleges:
Foundation College (Covering MQF Levels 1-3)
Technical College (Covering MQF Level 4)
University College (Covering MQF Level 5-7)
MCAST Chairperson Dr Silvio Debono gave a thorough overview of the strategic outlook for MCAST’s way forward. The changeover is to take place throughout the next three years with the aim of ensuring greater autonomy to the institutes as well as flexibility. MCAST has been offering courses as of Level 1 (comparable to School Leaving Certificate without O-levels) up to Level 6 (comparable to a University Degree). It will now venture into Level 7 (comparable to a Masters’ Degree).
MCAST is seeking to consolidate what has been achieved over the past years by having more vocational programmes across different levels and consolidating the linkages with both education and industry. This is based on three strategic pillars which are:
Cross-curricular based learning: To ensure that all students attending MCAST will have the opportunity to learn and practice across a holistic approach of learning.
Work-based learning: To ensure that all students attending MCAST will have work exposure, apprenticeship and internships as a critical component in their programme.
Entrepreneurship experience: To ensure that all students attending MCAST will be exposed to higher level of engagement with future prospects.
Education Minister Evarist Bartolo emphasized how important this change was yet it would only reap the benefits it is intended to if it manages to instil a change in practice. The colleges need to work as proposed across the notion of the former institutes and interchangeably work together as a college rather than as a stream, each on its own. The strategic pillars can elevate MCAST to the next level but only if it is implemented across the board and holistically. Otherwise, the Minister stated that this would be merely a cosmetic change, which he was sure it would not be. The idea is that MCAST becomes accredited as vocational university. The Minister also said that this would not mean that there should be unhealthy competition with the University of Malta but that through this renewed vision a wider cross-section of students continues to be reached.
GRTU is already working closely with MCAST as well as private training provision to ensure both a better quality workforce as well as citizens by ensuring a stronger bridge between education and industry. This is being done in various forms and increasing cooperation. Building on the past successes of MCAST to take the college to the next level is key for both education and the economy.
During a Business Breakfast focused on Tourism it was highlighted that with investment and effort to increase the quality of standards, Malta could be able to attract up to 2.8 million tourists annually if peak season arrivals could be replicated in the off-peak season, according to Malta Tourism Authority CEO Paul Bugeja. However tourism expert George Cassar voiced his concern that Malta had reached saturation point and added that he believes that Malta would not be able to cater for more than the 1.7 million tourists that
visited the island in the previous year.
On the other hand Tourism Minister Edward Zammit Lewis stated that tourism in Malta could still benefit from improvement, making due reference to the fact that an increase in the arrivals between October and November could be observed and that addressing the lack of infrastructure in the south could easily increase tourism in the area. Dr Zammit Lewis continued by expressing his concern about three-star hotels, saying that business owners should make a greater effort to improve their level of service.
GRTU Deputy President Philip Fenech, who also represents entertainment and hospitality sector at GRTU, reacted from the floor expressing that he believes that the investment accomplished by the Corinthia Group will increase the standards and positivity across the St. Julians area. This achievement should be an example to businesses in the area to upgrade and invest in their sector.
Mr Fenech continued by stating that the southern part of Malta should no longer be considered as an industrial area but rather as another touristic area with niches of its own. However it is also important that environmental restraints must be considered. Mr Fenech concluded by addressing issues that concern the Paceville commercial community. He mentioned that loitering must be addressed by all stakeholders in order to reach conclusions. He also mentioned that language school students within St Julians area are causing havoc and thus language schools should focus on attracting older students which would increase higher added value in the area. These were a few of the points Mr Philip Fenech discussed with the panel.
GRTU notes with pleasure that Government has heeded its concerns on the need for new schemes in the renewable energy sector, mainly PV installations. A new grant scheme shall be launched next week, with a feed in tariff agreed with GRTU which is much better than originally planned by
Government. The grant level and the way the scheme and the funds will be managed were also discussed during several meetings. A compromise has been reached to satisfy the retailers’ needs allowing for a good number of sales at a steady pace, as well as presenting a favourable investment opportunity to customers while addressing concerns raised by Government.
Systems without grants
GRTU is also urging Government to issue a scheme, not necessarily supported financially by a grant, whereby it enables families who already own a PV system to install more panels. Currently a family that opts to increase the number of panels will see its original system’s Feed in Tariff lowered to today’s rates. Given these panels were purchased at a time when prices were higher, this approach does not make sense. Government through its entities SEWCU and MRA should incentivise families who want to increase the number of panels on their roofs by providing a reasonable FIT, in line with today’s rates for systems installed without grants, independently from their old systems which should remain unaffected.
Commercial & Industrial schemes
GRTU is currently discussing final touches with various Government departments to launch a scheme directed at businesses and industry who would like to install PV systems on a commercial scale. The scheme aims to provide the necessary guarantees and finance at reduced rates.
Quality
GRTU urges all prospective clients to make sure the retailers they buy from are GRTU APPROVED. This ensures quality, safety, performance and a strong redress opportunity in case something still goes wrong.
GRTU also takes this opportunity to invite genuine non-GRTU APPROVED retailers to participate in this scheme. There is nothing to be afraid of; to the contrary the certificate instils confidence by customers in your company and provides a variety of incentives. These include promotion via press releases and GRTU website and FB page, subsidized rates for trade fair participation, participation in the upcoming commercial and industrial schemes, and participation in the PVPFS.
GRTU held an information session regarding the newly re-launched Apprenticeship and Internship Scheme Opportunities in collaboration with MCAST. This session generated interest throughout a variety of sectors and members as it provides opportunities to tap into the service of new entrants into the labour market through work-based learning. The new scheme under the management of MCAST takes the form of quality apprenticeships and internships which are based on agreed learning pathways to be of value to the students as well as the businesses hosting them.
Apprenticeships:
MQF Level 3 and 4 (comparable with O-level and A-level standard in terms of vocational training)
Allowance by employer to be given to student undergoing apprenticeship of Eur50.00 per week
Applicable tax credits of between Eur700 and Eur1200
Student undergoing apprenticeship will be working around 16 hours a week during school months and around 40 hours a week during holiday months
Internships:
MQF Level 5 and 6 (comparable with University Diploma or University Degree in terms of vocational training)
No payment obligation applies
Agreed set number of hours can span over 1 month up to 9 months
This applies to various vocational training sectors and your business can benefit directly by the services of apprentice/intern as well as by contributing to a more labour market-oriented workforce in the years to come. For further assistance and support please contact GRTU on 21232881/3or by email.
