Tax Malta, Tax Efficiency Malta, Gaming Malta, Shipping Malta, Financial Services Malta, Trusts Fiduciary in Malta
Personal Taxation
Individuals who are domiciled and ordinarily resident in Malta pay income tax on their worldwide income. Individuals who are domiciled elsewhere, and who are resident but not ordinarily resident in Malta, pay tax on any income arising in Malta, or remitted to Malta (but not capital gains, whether remitted or not). The six-month test is likely to be definitive in establishing residence. Non-resident individuals pay tax on their Malta source income only; but local interest and royalty income are exempt from tax, as are capital gains on holdings in collective investment schemes or on securities as long as the underlying asset is not Maltese immovable property. Returned migrants are offered a special tax regime: a person born in Malta who returns to Malta can elect to pay 15% income tax on local income only. Holders of permanent resident permits pay tax at a reduced rate of 15% on income arising in Malta and remittances from abroad of an income nature after double taxation relief but subject to a minimum annual tax of Euro 4,192.
The current rates of tax are:
Persons ordinarily resident and domiciled in Malta
| Married | Single | ||
|---|---|---|---|
| Income In Euro | Tax Rate | Income Euro | Tax Rate |
| 0-11,900 | 0% | 0-8,500 | 0% |
| 11,901-21,200 | 15% | 8,501-14,500 | 15% |
| 21,201-28,700 | 25% | 14,501-19,500 | 25% |
| 28,701 and over | 35% | 19,501 and over | 35% |
Non Residents (Married Or Single)
| Income, Euro | Tax Rate |
|---|---|
| 0-700 | 0% |
| 701-3,100 | 20% |
| 3,101-7,800 | 30% |
| 7,801 and over | 35% |
