Property Tax often includes annual taxes based on the value of
immovable property, taxes on sales of real property, net wealth
taxes, taxes on inheritances and gifts, taxes on transfers of
securities, and even taxes on the non-use, or uneconomically
wanted, or non-economically beneficial, types of properties.
In Malta, property tax is one way of distributing wealth
amongst society- mostly by taking it from the rich and giving it to
the poor. Countries as diverse as Ireland, Greece, China, Cambodia,
Croatia, Egypt, Liberia, Namibia, and others, all devise forms of
property taxes to boost their government revenues, whilst reducing
inequality.
Some form of property tax must soon come to Malta, for
various reasons. To begin with, the EU is unquestionably looking
with a big magnifying glass at the economic freedom that all
finance ministers in Malta have to operate in. Additionally,
property in Malta, especially that which is owned by foreigners, is
possibly one of the
