Tax will be exempted from half the donations exceeding €2,000 made by businesses to the Malta Community Chest Fund, it was announced today. The donation will be listed as a company expense.

Addressing a press conference this morning, Finance Minister Edward Scicluna said that the measure will be implemented for duration of a year, and the government will assess its result, with the hope of extending it further. This incentive is being implemented to acknowledge the philanthropic actions of companies, and is in line with measures used abroad, he said.

President Marie-Louise Coleiro Preca lauded the ministry for the fiscal measure, and said that it is due time companies are accredited for carrying out social responsibility acts. She added, that according to the National Cancer Registry, the incidents of cancer have more than doubled in the last 25 years. However, at the same time, it has caused fewer deaths, and those diagnosed with cancer are likely to live longer, due to scientific advancements. The President encouraged the public to come forward and donate those most in need.

Reacting to the news, the Nationalist Party appealed to the government not to discriminate against NGOs. In a statement, PN MPs Tonio Fenech and Claudette Buttigieg welcomed the initiative which, they said, builds on other initiatives introduced during previous legislatures. However, the PN expressed its disappointment over the fact that the government will be discriminating between NGOs and institutions that depend on the generosity of benefactors and businesses.

 

Any tax-rebate initiative related to donations should not be exclusive to any one entity but should apply to all donations to NGOs and charitable institutions. The PN is therefore appealing to the government to revise the scheme and extended to all donations given to NGOs and charitable institutions.