The Malta Independent 10 August 2026, Monday
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Withholding Tax

Malta Independent Thursday, 24 April 2008, 00:00 Last update: about 14 years ago

Alfred Mifsud (TMID, 18 April) knows that those persons who are paying 15 per cent withholding tax come from the working class who through the years have managed to put away some of their hard earnings so that they can augment their pension on retirement. Does he want to tax these elderly persons more to relieve those who are earning thousands of euros a year? Is increasing the withholding tax an incentive for saving?

Is this the kind of social justice that Mr Mifsud advocates to his Labour Party when in government? Thank God that he is not in the race for the leadership.

Persons who possess a lot of money do not put it into savings accounts but know better how to invest them to get more return. I cannot see persons like Mr Mifsud putting money in a savings account just to get pittance in return.

Mr Mifsud’s writing confuses a lot of his readers. While he openly boasts of his social democratic credentials he knows only too well that only a free market approach to the economy can create wealth.

Sometimes one wonders whether he is the professed socialist or the capitalist/conservative person. Perhaps he is both.

Carmel Camilleri

Paola

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