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Treasury paying out €7.5 million in tax refunds
Finance Minister says refunds are ‘procedure’ and have nothing to do with elections
4 March 2013, 12:00am
Karl Stagno-Navarra
Karl Stagno-Navarra
1 min read
Tonio Fenech said tax refunds are always released in the first three months of the year.
The Treasury is this week paying out an estimated total of €7.5 million in company tax and income tax refunds.
The payment, which was due according to governmental procedures, is said to be unrelated to the fact that the country goes to the polls next Saturday. Speaking to MaltaToday, finance minister Tonio Fenech confirmed the payments are underway.
"It is standard procedure for the Treasury to issue tax refund payments during the first three months of the year, which is the time when the workings related to computations by companies and individuals, mostly working mothers, would be reimbursed for rebates, tax credits or any excess in tax paid in relation to the previous year's assessments," Fenech said.
The finance minister stressed that the payments being sent out now are in line with government policy, and reflect the strict procedures adopted over the past years, which impose penalties with interest on government for any delays in refunding the taxpayer.
"In March last year, government paid out some €30 million in tax refunds, and the refunds being paid now are a confirmation that they have nothing to do with Saturday's election," Fenech said, adding that the refunds have no impact on government's budget, because all financial budgets related to the finance ministry are all net of refunds.
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U int tahseb li ahna "CWIEC MALTIN" ghadna nemmnu GIDDIEB KORROTT bhalek Tonio?!?!
IRRIZENJA MILL-PARTIT TAGHNA ISSA!
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Tonio u ir-refunds tal Mepa sejjer thallashom ukoll, ghax ilkom titmejjlu bin nies. Mela hallashom ukoll ghax nhar is sibt li gej b'kumbinazzjoni hemm l-elezzjoni. Kif ma tisthiex tidher quddiem in nies.
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Giid yesterday I received my tax refund of 36 euros. Not enough to buy a Malta clock dear minister. Or was it worth one lira.
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Tad-dahk jew tal-biki ? It tnejn joqghodu ghal wicc Tonio Fenech !
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B'min jaħseb li ser jitmejjel Tonio Fenech ? Tgħid mhux ser nemmnu li dan mhux ezerċizzju propogandistiku biex jaraw kif jakkwistaw xi ftit voti . Li kieku dan mhux hekk , kieku kien jistenna sa wara l-elezzjoni u mhux isib dan il-mument propizju biex jagħmel dan . Tonio Fenech jista jieħu elf ġurament li dan ma kienx li skop ta' dan l-ezerċizzju , għax trid tkun veru baħnan biex temmnu . Mhux bizzejjed li inqabad jigdeb fil-kwistjoni taz-zejt , irid ikompli jigdeb dwar din ukoll ?
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@ Justice. Mela dawn jemmnu f'Alla?. Dawn jinqdew b'Alla. Imorru l-knejjes biex jarawhom in-nies u b'hekk jaghmlu propaganda rhisa fil-u bil-Knisja ta' Kristu. Jitilghu jitqarbnu qishon ser jiehdu xi bicca galettina biex jarawhom in-nies...imma halli nieqaf hawn, biss qabel irrid nghid li l-knisja jmissa tisthi li thalli dawn il-pulcinellati jsiru u ma titkellimx. Ghalhekk jien ma nersaqx lejn il-knisja. Biex tkellem lil Alla u titolbu mahfra, m'ghandekx bzonn sensara. ALLA m'hu monopolju ta' HADD. ALLA Hu ta' Kulhadd u jaraf il-hsibijiet ta' kulhadd. U HADD ma jghaddi z-zmien b'Alla, mhux billi joqghodu jmorru jibbuffunjaw fil-knejjes.ISTHU, ja qabda farizej korrotti.
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This week you are receiving tax refund before election,and next week you receive the WATER & ELECTRICITY bill after the election.It is up to the electoral to judge.
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What about the vindictive transfers, what about the lose of overtime, what about all the allowances that I was supposed to be given and because of my colour you never approved, and your gonzi before you. I am short of money and for 1 Billion I wouldn't even dream to consider voting for you. One minister said that he would have help me if I wasn't a labour supporter, another parliamentary secretary said when he knowed on our door in 2008, "you Labourites are all the same" - I live in Sliema.
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Kumbinazzjoni jahasra, 4 ijiem qabel l-elezzjoni generali ser jaghtu r-refunds tat-taxxa, u ziedu l-hinijiet tal-ftuh tac-centri tas-sahha, u inawguraw mil-gdid ic-centru tas-sahha tal-Mosta ( avolja mhux lest )!!!!
X'nies huma dawn imma, akkost ta kollox u lesti jamlu minn kollox biex jergaw jisirqu l-elezzjoni.
Poplu Malti oqod attent ax l-ilpup lesti biex jergaw jahtfuk taht-snienhom!!!!
Paul Sammut •
This minister must have 'CUC u Cwiec' engraved in his brain. He thinks us all, Labs and Nats, idiots. One wonders if he gets enough votes to get elected this time round.
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What a coincidence! Go tell it to the marines Tonio!
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MHUX HEKK, TONJU!!
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These tax refunds are unrelated to the fact that the country goes to the polls next Saturday. Speaking to MaltaToday, finance minister Tonio Fenech confirmed the payments are underway.
Go and tell it to the marines, minister,
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Since when is our Treasury Department so keep to pay out tax refunds? These were said to be unrelated to the fact that the country goes to the polls next Saturday. Of course not. It is just another word for POWER OF INCUMBENCY to snatch votes at the very last minute by giving out money, in some instances, totally undeserved, just to garner votes. U dawn iridu jaraw wicc Alla!!!!
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These tax refunds are unrelated to the fact that the country goes to the polls next Saturday. Speaking to MaltaToday, finance minister Tonio Fenech confirmed the payments are underway.
Go and tell it to the marines, minister,
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Last year 30 million were paid out but this year 7.5 million. Why such a difference? Is it because of lack of money - finanzi mhux fis sod. The Government has to fork out 9% per year interest on unpaid vat and tax refunds - millions in interest is paid annually. At the same time the same Minister introduced a scheme whereby taxpayers have their interest on unpaid taxes reduced by 75% if paid. This means that the Government pays out interest at 9% on what he owns while taxpayers pay 2.25% on what they owe to the treasury. Mismanagement at its best.
