The small businesses chamber, the GRTU, said Finance Minister Tonio Fenech has accepted its request to extend to the end of the year the closing date for submissions of VAT returns of those who are lagging, so that they would benefit from the fines reduction announced in the budget speech.

It said many accountants had not managed to keep up with the load of work involved, and the extension would enable more businesses to regularise their position with the VAT department.