cONTINUE rEADING
Technology and Innovation Incentives
- Amongst other references to AI, the re-alignment of the AI strategy initially issued in 2019 was referenced, as was the setting up of a new unit for AI in Malta.
- The European Digital Innovation Hub forms part of the technology-related incentives, acting as a community for services like accelerator, incubator, and mentorship, as well as providing access to high-performance computers for research.
- A Digital Identity Wallet will be launched, aimed at allowing citizens to share their identity through an app on their smartphone.
Environmental and Sustainability Initiatives
- The existing schemes supporting the installation of photovoltaic panels, batteries, reverse osmosis systems, heat pumps, and the restoration of wells will remain in effect.
- Electric and plug-in hybrid vehicle subsidies will continue, but the maximum amount will decrease from €11,000 to €8,000 per car. Funding will shift from EU sources to national sources in 2025.
Vision 2050 and Malta’s Development Goals
- The Vision for 2050 will serve as a plan for economic, social, and environmental development of the country, aligning with the EU target of carbon-neutrality by 2050.
- Public consultation is underway, and Vision 2025 is to be launched at the end of 2025.
Employment and Equal Pay Initiatives
- Amendments to wage regulation orders are anticipated to address anomalies related to overtime work, pay on public and national holidays.
- A new law enforcing equal pay for equal work will become effective as of 1st January 2025.
Interested in other topics announced in Malta Budget 2025?
Read our dedicated article on The national economic forecast, inflation, employment, and fiscal details here.
Read our dedicated article on Tax savings, international tax policies, and incentives that benefit families and enterprises here.
Read our dedicated article on Property-related incentives, VAT refunds, and property development grants, appealing to homeowners, buyers, and developers here.
Alternatively, you can view and download the full Malta Budget for 2025 in PDF format here.
