Finance minister Tonio Fenech disclosed in Parlaiment yesterday that interest on overdue tax refunds are costing government a total of €87,131 every month. Replying to a question, Tonio Fenech said that during February, €11.6 million in income tax refunds were owed to a total of 6,711 taxpayers, and stated that this money will be paid out shortly. He said interest was being paid at the rate of 0.75 per cent per month, as laid by law.
