Covid-19 – Support Measures Extension

In a press release issued by the Ministry for Finance and Financial Services on 29th April 2020, the Minister for Finance Edward Scicluna announced a number of new measures that the Government is taking to support businesses in dealing with the difficulties they are facing because of the COVID-19 virus, namely the following:

• The tax deferral scheme will be extended by a few months and Government will continue to act as needed in this regard, as the situation evolves. No further details were provided;
• The Cabinet has taken a decision to update local insolvency laws to better safeguard companies on the brink of bankruptcy;
• Discussions are underway to address the difficulties that may be faced by companies offering bonds and shares to small investors on the Malta Stock Exchange.