As at the end of last February the Inland Revenue Department owed €20,758,912 in income tax refunds and €25,889,245 in VAT refunds, Finance Minister Edward Scicluna said yesterday.
He was answering questions by Carm Mifsud Bonnici (PN).
On the reverse, the department was due to collect respectively €166.7 million and €69.5 million. The first figure did not include estimates on taxpayers who had not submitted their income tax returns.
Prof. Scicluna said the department was expecting to have completed the refunds in the next few weeks.