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Increased investment in the digital sector

 - Budget 2021 - Oct 19 SHARE ON:

A new Digital Strategy – ‘Digital Economy Think Tank’ – will be established to further consolidate capital investment in the digital sector.

Focus will be made on technology such as Virtual Reality, Augmented Reality, Immersive Technology, 3D Printing, Quantum and High Performance Computing.

Further implementation on Artificial Intelligence (AI) projects in the academic, health and transport sectors will continue next year.

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Tax exemption for voluntary organisations

 - Budget 2021 - Oct 19 SHARE ON:

All voluntary organisations registering an income of less than €50,000 shall be exempt from paying taxes on their yearly profits.

These organisations shall be monitored by Government for transparency of donations collected and its distribution.

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Extension of covid-19 wage supplement

 - Budget 2021 - Oct 19 SHARE ON:

The Government COVID-19 wage supplement for will be extended until at least March 2021.

The wage supplement is part of the Government’s economic recovery scheme where business will continue to be eligible for a maximum of €800 monthly for every full-time worker.

A review of the aforementioned scheme will be carried out at the end of the year to consider whether the amount should be changed.

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Extension of existing schemes on buying and selling of property

 - Budget 2021 - Oct 19 SHARE ON:

The decreased stamp duty scheme for First Time Buyers, Second Time Buyers, buyers of vacant properties in Urban Conservation Areas (UCA), buyers of property in Gozo as well as refund schemes for restoration expenses will be extended further.

From tomorrow, First Time Buyers will also be exempt from stamp duty on the first €200,000, rather than €175,000 of the price of property. Additionally, the government announced a decreased rate of 3.5% on the first €200,000 on the price of real estate purchase, even for those who are not first time buyers.

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