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The macroeconomic impact of the income tax reductions in Malta

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  • Aaron G Grech

    () (Central Bank of Malta)

Abstract

This paper presents estimates of the possible macroeconomic impact of the reductions in income tax introduced in the Budgets for 2013 and 2014. The simulations are based on the structural macro-econometric model described in Grech and Micallef (2014). The impact of the reductions on Government revenue, estimated at 0.7% of GDP, is computed using data on chargeable income under the different tax bands from the Inland Revenue Department as at 2013, with future income projected using Central Bank forecasts.

Suggested Citation

  • Aaron G Grech, 2015. "The macroeconomic impact of the income tax reductions in Malta," CBM Working Papers WP/02/2015, Central Bank of Malta.
  • Handle: RePEc:mlt:wpaper:0215
    as

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    File URL: https://www.centralbankmalta.org/file.aspx?f=11221
    File Function: First version, 2015
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    References listed on IDEAS

    as
    1. Grech, Aaron George & Grech, Owen & Micallef, Brian & Rapa, Noel & Gatt, William, 2013. "A Structural Macro-Econometric Model of the Maltese Economy," MPRA Paper 46128, University Library of Munich, Germany.
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    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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