PN government would increase VAT ceiling from €30,000 to €60,000

Only those earning €60,000 and over would be required to pay VAT under a PN government, Bernard Grech said on Thursday. Addressing party supporters at Msida, the Opposition leader said a Nationalist government would simplify bureaucracy for businesses and in the process alleviate the financial burden that consumers have to shoulder. Right now, the turn-over threshold under which service providers remain eligible for VAT registration stands at €30,000. On Wednesday Times of Malta reported that the government loses out on at least €120 million through VAT evasion every year, and it is planning on clamping down on abusers in October's budget.   Grech said on Thursday that thousands of business people earned slightly more than €30,000. A PN government would therefore extend this bracket to €60,000, meaning they would no longer have to collect VAT from their clients to pass it on to the government. "Before being elected to power, the Labour Party had promised it would simplify bureaucracy. It didn't keep up this promise. "Nowadays, several businesses tell the PN that too much bureaucracy could lead to a financial burden. At the end of the day, consumers shoulder this financial...