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pr190233

PR190233

06/02/2019

PRESS RELEASE BY THE MINISTRY FOR FINANCE Combating tax fraud at the European level

​Minister for Finance Edward Scicluna welcomed the tax officials from the 28 member states attending the 12th meeting of the Eurofisc Group Working Field 1 dealing with MTIC fraud. The two-day conference, hosted by Malta, is being held at the Grand Hotel Excelsior Malta between the 6th and 7th of February.

During Minister Scicluna’s opening address, he stated that although Malta, which joined the European Union in 2004, is both the smallest and southernmost country of the European Union, the country, just like the others represented, has an obligation to ensure that its living standards converge with those of the EU.

In his speech, Minister Scicluna said that in order to ensure Malta’s economic success, the economy needs to continue to grow at a steady pace. To date, Malta’s economy is growing faster than the EU average and most other member states.

Being that Malta has no natural resources to tap into, the Government needs to be smart in order to not only survive but thrive. Malta has been able to successfully cultivate its economy by diversifying its sectorial portfolio while also continuing to be competitive in the said industries. Minister Scicluna stated that in order to be prosperous, Malta has retained a strong presence in traditional industries such as manufacturing and tourism, while also developing other sectors such as financial services and iGaming, as well as being at the forefront of the movement to attract companies that specialize in disruptive technologies such as blockchain.

Minister Scicluna stated that Malta endorses solidarity and cooperation, especially within the European context. As Malta showed solidarity when some member states had financial difficulties and needed aid, one expects the same approach towards migration burden sharing by all member states. Minister Scicluna concluded by wishing the officials a successful meeting in which there is an abundance of information sharing so that we as a European Union can continue to move forward and combat collective issues such as tax fraud.