The Malta Independent 14 April 2024, Sunday
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Finance Minister welcomes Council’s decision to lift Excessive Deficit Procedure against Malta

Saturday, 20 June 2015, 12:31 Last update: about 10 years ago

Finance Minister Edward Scicluna has welcomed the European Council`s decision on the abrogation of the excessive deficit procedure against Malta.

Speaking at a meeting of the Economic and Financial Affairs (ECOFIN) in Luxembourg, the Minister for Finance, Professor Edward Scicluna said: “We promised that we would do it. It was not easy to accomplish, but we are pleased we have managed. Our commitment for the future remains."

Ministers held an orientation debate on the Commission`s March proposal to provide for automatic exchange of information in tax matters, in connection with tax rulings issued by Member States. The discussion aimed to provide political orientation for the ongoing technical work on this dossier. “Malta is committed to transparency in tax matters, but we need to end up with an efficient instrument for tax authorities to administer, whilst avoiding any ambiguity in the definitions” Minister Scicluna said during the meeting.

The ECOFIN meeting was preceded by the Annual European Investment Bank (EIB) Governors’ meeting. Moreover, yesterday a Eurogroup meeting was held dealing with a number of matters including Greece.

 

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