Watch: Tax harmonisation effects on Malta “huge and disproportionate”

Maltese MEP Roberta Metsola spoke out against Tax Harmonsation and the one-size-fits-all approach taken by the European Union in terms of funding and taxation. She said of moves towards harmonisation or removing the concept of unanimity that “the effect of this on the Maltese industry would be huge and disproportionate.”

Metsola was speaking during a Business Breakfast she organised which was also addressed by the Commission Vice-President responsible for Jobs, Growth, Investment and Competitiveness Jyrki Katainen, and the PN Leader Adrian Delia.

“As the smallest EU Member State, Malta knows that a one-size-fits-all approach does not and cannot always work,” said Metsola, “especially when taking into consideration the country’s insularity and economies of scale.” She said that this applied to both issues of funding and taxation.

The MEP also encouraged Maltese and Gozitan business to make more use of EU funds calling for less bureaucracy for more accessibility to funding by smaller firms and companies. “I reiterate our concern as a nation with the moves for tax harmonisation on a European level or any attempt to remove the concept of unanimity on this issue,” she said before pointing out the scale of the effects this decision can have on Maltese industry.

Delia on his end spoke of challenged for local businesses to access EU funds, insisting the investment should also be made by the EU and Member States in students to prepare them for tomorrow’s economy.

Commissioner Katainen meanwhile asked stakeholders and business leaders to have their say, choosing to listen to first-hand accounts of issues with the uptake of EU funding. He then spoke of the InvestEU Programme which will being a number of EU financial instruments together in 2021.