Malta Chamber of SMEs welcomes the European Parliament President at its offices
04 October 2022
The Malta Chamber of SMEs welcome European Parliament President Roberta Metsola at its offices in...
Following an information session held by FIAU and the Ministry of Finance, hosted by GRTU to its members from various sectors, GRTU opened a two-week consultation period to its members. The main scope of the proposal is to set a limit upon cash transactions which is being suggested to be at €10,000 for cases of both single transactions as well as transactions which appear to be linked. Any such transactions above this threshold would be considered illegal and penalties duly applied.
GRTU appreciates this positive initiativewhich is aimed at combating tax evasion and money laundering as well as incentivising the shift towards other safer and more contemporary methods of payment such as online transactions. GRTU has however put forward a feedback document highlighting the following concerns:
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