This country is less than one-fifth of Beijing
But it can bring a high sense of happiness to the residents!
Happiness Country Malta
On October 11, the "Malta 2022 Budget" was officially released. The relevant policy details related to the national economy and people's livelihood are covered in this document. Through these nuanced measures, let us take a look at what surprises Malta has brought?
economic development
★ No tax increase for the fifth consecutive year
★ Increase the cost of living of low-income families
★ The economy recovers after the end of the new crown epidemic, and the fiscal deficit next year will be reduced to 5.6%
★ From June 1, 2022, the collection of tax arrears will terminate the regular pardons for tax arrears, and the interest on tax arrears will be increased to 7.2%
Employment security
★ The tax rate for part-time work is reduced from 15% to 10%
★ Employees with an income of less than 20,000 euros and working hours beyond the standard working hours can receive a subsidy of 150 euros
★ For non-management staff whose income is less than 20,000 Euros, a 15% tax will be levied on their first overtime payment of 10,000 Euros
★ The weekly living expenses increase by 1.75 euros
★ All part-time workers who work part-time have accumulated more than 40 hours a week and can pay social security
Real estate investment
★ Purchases of properties over 20 years old and vacant for more than 7 years are exempt from capital gains tax and stamp duty; those who purchase such properties for the first time will receive a subsidy of 15,000 euros; for those who purchase such properties on the island of Gozo Sashima people, the subsidy increased to 30,000 euros
★ For the part of the house renovation cost of 300,000 euros, a VAT refund of 54,000 euros will be obtained
★ Expansion of rent subsidies for enterprises
★ For rented houses before 1995 that have a value of no more than 250,000 euros and require structural repairs, they will be eligible for a subsidy of no more than 25,000 euros
★ Personal real estate will receive tax subsidies for renting out as economically affordable housing
Public transit
★ From October 1, 2022, everyone can use public transportation for free
★ The maximum subsidy for electric vehicles has been increased from 9,000 euros to 12,000 euros
★ Exemption of registration tax for electric vehicles
★ 1,200 electric vehicle charging stations will be installed in the next three years
★ Electric minibuses, coaches and trucks provide subsidies of up to 900 Euros
★ VAT refunds for bicycles and electric bicycles will continue to be implemented
Student protection
★ Student allowance will increase by 10%
★ Students can work no more than 25 hours per week, but they can still enjoy allowances
★ Provide more internship positions in the private sector
★ The government will provide 10,000 euros to public middle schools and primary schools every year to provide food and other basic guarantees to poor families and disadvantaged children
Parent welfare
★ The free childcare service will be extended to nights and weekends
★ The allowance for parents of newborns has been increased from the current 300 Euros to 400 Euros
★ The parents of the newborn will receive a parenting kit for the newborn
★ The subsidy for working parents with children under the age of 23 will be increased from 35,000 euros to 50,000 euros
Health
★ Drugs used to treat cancer, osteoporosis, fibromyalgia, inflammation, rare diseases, IVF and certain rare and extreme allergies will be added to the government medical insurance list
★ Beginning next year, elderly people over 80 years of age who enjoy complementary medical care can enjoy free medication
★ The blood glucose monitoring project will be extended to people aged 17-21
★ Development of a new blood bank and stem cell processing and storage facility
The "2022 Budget" has made clear plans and goals for Malta's national economy and people's livelihood. It is not difficult to see that Malta is committed to providing a full range of welfare guarantees for all residents of society!
In the future, while promoting the economic development of Malta, investors will also enjoy a more complete social security system and a better living environment. Choose the Malta permanent residence plan, choose Xingyunhai International, a four-generation family with European identity!
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