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10% tax rate for SMEs proposed in GRTU’s ‘pro-business’ electoral manifesto

GRTU wants 30% reduction of electricity prices for commercial sector and removal of SISA on tyres, tiles, aluminium, glass and personal care products

miriam
Miriam Dalli
16 May 2017, 6:03pm
The GRTU has presented 33 proposals
The GRTU has presented 33 proposals
In the 33 proposals presented to the political parties, the Chamber of SMEs (GRTU) has once again called for further reductions to the commercial sector as well as a 10% tax rate for SMEs.

In the electoral manifesto, dubbed “pro-business”, GRTU president Paul Abela said the proposals were being presented to the political parties to be included in their manifestos.

Amongst the proposals are those targeting taxation, with the GRTU requesting “the rationalisation” of taxation whereby the maximum income tax on SMEs would be of 10% and for the 6/7 tax incentive “to be reclassified to exclude those economic sectors which have reached market stagnation”. The GRTU is also requesting the removal of the tax on business transfers “both before and after death”.

The GRTU has also insisted that electricity prices for the commercial sector should be reduced by 30%.

Amongst the other commitments requested by GRTU are “a crusade” to eradicate unfair competition, a consultation that will lead to an ‘Accountability Bill’ for the civil service, the removal of audit requirements on micro companies and the immediate removal of SISA on tyres, tiles, aluminium, glass and personal care products.

The GRTU is urging prospective governments not enter in direct competition with the private sector. “The government shall not put public entities, NGOs and charitable foundations in competition with the private sector,” it proposed.

It also said that ODZ on public land should not be developed.

“GRTU is also proposing the proper valuation of the price for ODZ, to act as an ultimate deterrent and not for it to carry a price tag.”

The GRTU also proposed revisiting the powers of the prime minister; on the Planning Authority, the GRTU said that there should be more transparency and fairness.

“It is important for any government, that wants to act according to the principles of good governance, and limit chances of political interference.”

Amongst the incentives proposed, the GRTU called for the setting up of a Second Chance Foundation to address the stigma on failures and give entrepreneurs a second chance.

It also suggested the setting up of a Retail School.

miriam
Miriam Dalli joined MaltaToday.com.mt in 2010 and was assistant editor fr...