- Malta collected 650 million euros more in tax in 2024 compared to the previous year
- The increase is attributed to AI tools combating VAT and tax evasion
- The finance minister stated this is part of a national strategy to close tax gaps and ensure fairness
- The AI system identifies potential VAT evaders proactively
- This approach enhances enforcement and speeds up legitimate processes
- VAT refunds, previously taking three to four months, are now processed within the same month
Source: vatcalc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
