Nationalist Party slams government for accepting OECD tax pact without consultation

The Nationalist Party criticised the government's move to accept the OECD global minimum corporate tax agreement without consulting with stakeholders. 

"Once again, the Opposition, business owners, unions and stakeholders were not consulted on the fact that the Government has given in to the international institutions that our country loses its fiscal independence and accepts the decision taken on a common minimum international tax rate for foreign companies," party spokesperson Mario de Marco said.

He added that the party found out about the decision through media reports, mentioning that the issue was not raised in parliament. 

MaltaToday reported on Friday that government has agreed on the 15% minimum corporate tax, but holds reservations when it comes to the €750 million profit threshold as well as excluded sectors.

READ ALSO: Malta accepts OECD 15% tax pact ‘with reservations’

"The Opposition recalls that, unanimously between the two sides of parliament, our country has always defended the right to decide for itself what level of tax it imposes on the companies that work within it," de Marco stated. 

"Now, after seven years in which Malta lost its reputation in the financial field and ended up greylisted, not only did Malta give up this sovereign right but the Minister of Finance went so far as to stress that there is no point trying to object."

De Marco continued that the minister must refer to parliament 'immediately' to specify what Malta's reservations are on the matter and start discussing this element of the country's economy. 

On behalf of the Opposition, he demanded that government be transparent on whether it has tried to negotiate before reaching the announced position.