The tax deferrals announced as part of the COVID-19 recovery package only delayed the burden, Paul Fenech, President of the Republic Street Business Community Association said.

Speaking to The Malta Business Weekly, Fenech said: “Although many government initiatives were helpful for us, taxes have to be paid eventually. During this period, many entities have had little to no return, whilst still having to order stock, pay salaries and rent. Most are barely breaking even.”

He warned that Valletta business owners were facing facing difficult times before the pandemic hit. “We will see inevitable closures. Those that hang on will take years to get back to where they were before,” he said.

Asked about the controversial Christmas in the City initiative, Fenech said that a balance needs to be found between all entities. “We must continue with our lives and learn to live with the virus. I am happy to see people around Valletta distancing, and wearing masks. Ultimately it is down to each one of us to follow the regulations and be considerate to others.”

Read the full report on The Malta Business Weekly.