AGP Executive Report
Last update: 2 hours agoInvestment: Malta Enterprise has received 200 applications to its Invest scheme, representing €1.5 billion in potential investment. The scheme will be extended by six months, while the 2027 Budget cuts the tax rate on retained or reinvested profits to 25% for companies with turnover up to €1 million. Financial Services: At the FinanceMalta conference, Finance Minister Clyde Caruana said the sector should help fund a shift towards higher-value economic activity and support Malta’s long-term growth. Energy and Trade: Malta-based Alkagesta has completed its acquisition of Istanbul bunker supplier Energy Petrol, adding eight vessels and a long-term lease on 28,000 cubic metres of storage. It marks Alkagesta’s first move into vessel ownership. Tourism Businesses: Short-let and hotel operators are resisting an eco-tax reporting system administered by the MHRA, citing concerns over access to commercially sensitive booking and occupancy data. The agreement’s terms and safeguards remain undisclosed. Tobacco Taxes: Malta has blocked an EU proposal to raise tobacco taxes, delaying negotiations as retailers warn higher duties could push up cigarette prices.
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