Malta: ‘EUR9 excise duty will make things difficult’

Malta: ‘EUR9 excise duty will make things difficult’
26 October 2010

The construction industry in Malta is currently going through a recession, therefore increasing its costs will only serve to make things increasingly difficult, according to Michael Falzon, president of the Malta Developers’ Association. 

Mr Falzon was speaking with regard to a budgetary measure which was announced last Monday, where it was stated that an excise duty of €9/t of imported cement is to be levied. 

However, Mr Falzon said that based on his calculations this cost is actually minimal, when it is compared to the annual turnover of the industry. 

The cost, which he calculated based on the total cement imports of the previous year, amounts to around €3m per annum, he said.
Published under Cement News