A Budget that extends the safety-net for Businesses, more tax incentives should follow to enable new investments
19 October 2020
Budget 2021 The Malta Chamber of SMEs is pleased to see a number of its...
During a Public Dialogue session organized by MEUSAC on the
Priorities of the Italian Presidency, GRTU CEO Abigail Psaila Mamo, emphasized
the importance of having the regulation on interchange fees treated with
The regulation needs to be adopted by the end of 2014 so
that it can come into affect at the earliest possible. It is however important
that it is adopted according to the version approved in Plenary by the European
Parliament last April.
Unfortunately it seems that the Italian Presidency
intends to put forward a set of new proposals to these Regulations which it
will lobby for in Council and later at the EP. The proposals being put forward
by Italy are not going in the right direction in our view. GRTU has insisted
with the Maltese Government and the Maltese MEPs that they should support the
version of the European Parliament Plenary in April 2014.
interchange fees have been found at European Commission and court level to be
anti-competitive; they have cost businesses and consumers, on average, €9
billion per year for over a decade and stand in the way of market development
across Europe. The MIF is an important part of the total cost for card
acceptance and ultimately contributes to the prices of goods and services for
competition is badly needed in the retail payments market to promote innovation,
improve customer service and ensure flexibility. The payments package will
provide benefits for all:
A true choice of low-cost, safe,
efficient electronic payments which operate across the EU. Lower MIFs will
produce better services and lower prices for all consumers, whether they use
payment cards or not.
The ability to use cards at more
outlets, as lower fees enable small merchants to take cards.
Access to new products and services
at transparent costs.
Full access to new e-commerce
services and new technologies.
Merchants will pay their fair share
of card costs and no more: they will be able to improve services and pass on
savings to consumers.
Easy access to an EU-wide market for
products and services.
An expanded market and the emergence
of new payment products will increase transaction numbers and so maintain
Extra services can be marketed
through increased online traffic for banks.
Banks will move to embrace new
technologies, innovative payment products and make the best use of new
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).