The GRTU yesterday introduced a scheme for members and other businesses which have travelling, accommodation, fairs, consultancies and other expenses on which VAT is paid and where Maltese traders find it difficult to ask for a refund.

The scheme involves the GRTU’s partnership with Transfinance, enabling the GRTU to assist traders to claim back costs in taxation.

GRTU president Paul Abela said this was another service the GRTU was providing to the commercial community to help it integrate in the European market. Transfinance founder Dr H.J.H. Linneman, a member of the International VAT Association, explained how Maltese traders can now claim back payments they would have made on tax, in many cases even on tax which was paid and not reclaimed in the past months and years.

Edwin Vassallo, parliamentary secretary for small businesses, said this was an important partnership because it would be wrong, after Malta integrated its systems with the European Union’s, for the Maltese trader not to have the suitable tools which would help him compete effectively.