Malta Chamber of SMEs President Paul Abela has welcomed a reduction in the tax paid when businesses are transferred between family members, while arguing that the rate should eventually be brought down to zero. View this post on Instagram A post shared by Lovin Malta (@lovinmalta)The measure was discussed during a pre-Budget 2027 meeting between the government and the Malta Chamber of SMEs on Wednesday, as consultations ahead of next year’s Budget continue.Under the change, the rate applicable to transfers of businesses between family members is being reduced from 5% to 1.5%.Abela said the previous 5% rate had become particularly burdensome as property values increased, since business transfers can involve significant assets.“The 1.5% is still discriminatory, but we are moving in the right direction,” Abela said in reaction to the measure.The SME Chamber president said he would continue pushing for the rate to eventually be reduced to zero, arguing that family members taking over an existing business should not face such a financial burden.The development comes as the government continues its Budget 2027 consultation process, which began earlier this week in Gozo and is now moving into discussions with Malta’s social partners.Do you agree that the tax on family business transfers should eventually be reduced to zero?•