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...
It has become very evident that a considerable number of foreigners, in particular Sicilians,have set up various cafeterias and restaurants in a number of touristic areas around Malta especially in the areas of St. Julians, Sliema, Valletta and Bugibba. The reason being that with the right of moving freely in the EU these individuals can come over to avoid the current financial crisis being experience in Sicily which is affecting their tourist and business sectors.
On the matter GRTU President Philip Fenech has expressed his concern that the products being sold from these businesses are not obtained from local suppliers but attained from Sicily. It transpires that through this practice these individuals may not necessarily be paying tax in both Malta and Sicily which is a detriment to local business as this creates unfair competition. One must also look into the notion that most of these businesses are employing Sicilians which may perhaps not be registered with appropriate authorities which could also affect the legitimacy of operations.
GRTU urges authorities to carry out regular inspections to monitor any abuse that might be taking place.
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).