Topic
Personal tax & employment
Income tax for individuals, employment income, pensions, fringe benefits and payroll obligations.
103 news items and articles, newest first
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COVID-19: Facilitation of Teleworking Activities
After a number of fiscal support measures were announced, intended to aid employers and self-employed persons that are negatively impacted by the COVID-19 outbreak, the application form for businesses to receive a grant…
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Voluntary Occupational Pension Schemes Rules
By means of LN 228 of 2017, entitled ‘Voluntary Occupational Pension Scheme Rules’, the Malta Government has launched a number of tax incentives for contributions paid to qualifying schemes established in the context of…
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COVID – 19 – Teleworking Grant Scheme
On the 16th March 2020, Malta Enterprise issued new Guidelines under the Business Development and Continuity Scheme to facilitate the possibility for employers to provide teleworking arrangements to their employees who…
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Amendment to the Tax Rebate (Pensioners) Rules
The Government of Malta has recently published Legal Notice 326 of 2019 to increase the maximum amount of tax rebate available to persons chargeable to tax at the rates specified under article 56(1)(a) and (b) of the…
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Qualifying Employment in Innovation and Creativity (Personal Tax) Rules
The Malta Government has on the 5th November 2019, published Legal Notice 282 of 2019, which revised the Qualifying Employment in Innovation and Creativity (Personal Tax) Rules, which shall be deemed to have come into…
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Budget 2020 – Measures Related to Employment
The Ministry of Finance has on Monday 14th October 2019 delivered the Budget Speech for the year 2020. The following are the measures announced in the budget speech which are related to employment. Cost of living…
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Minimum Tax for Res non-Dom individuals
The Maltese tax authorities have recently issued guidelines on the remittance basis of taxation which are applicable to persons who are ordinarily residents but not domiciled in Malta. The guidelines have also provided…
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Tax deductions in respect of donations made to the Community Chest Fund
By means of Legal Notice 321 of 2018, the Government of Malta has announced that the rules applicable to tax deductions in respect of donations made to the Community Chest Fund have been extended to donations made up to…
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Reduced rate of stamp duty on the donation of shares and property used for business purposes
By means of Legal Notice 412 of 2018, the Government of Malta has announced that the reduced rate of stamp duty amounting to Eur1.50 for every Eur100 or part thereof, on the following donations, has been extended by…
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New tax incentives for employees in the Maritime sector
By virtue of LN 140 of 2018, Malta has introduced new tax rules which provide tax incentives to employees employed in a qualified employment in maritime activities and in the servicing of offshore oil and gas industry.…
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Amendments to the Qualifying Employment in Aviation (Personal Tax) Rules
By means of Legal Notice 378 of 2017, the above-mentioned rules (which were originally issued by means of Legal Notice 177 of 2016 as amended by Legal Notice 1 of 2017) were once again amended. The rules allow for the…
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Taxation of Employment Income in Malta
Introduction In recent years, Malta has experienced a significant increase in international business and foreign direct investment. Its legislative framework, its infrastructure, Government’s investment in state of the…
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Tax deductions for donations made to the Malta Community Chest Fund (MCCF)
With effect from year of assessment 2015, a deduction against taxable income was introduced in respect of cash donations of not less than €2,000 made by companies to the Malta Community Chest Fund. The donation would be…
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Voluntary Occupational Pension Schemes
By means of LN 228 of 2017, entitled ‘Voluntary Occupational Pension Scheme Rules’, the Malta Government has launched a number of tax incentives for contributions paid to qualifying schemes established in the context of…
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New tax benefits announced for employers, employees and the self-employed
The Government of Malta has announced incentives to encourage employers and employees to invest in voluntary private pensions. Employers will now get a maximum tax credit of €150 for every €1,000 pension product bought…
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Amendments to the Fringe Benefits Rules
By means of Legal Notice 205 of 2017, the Government of Malta has amended the rules relating to fringe benefits. Fringe benefit are benefits provided or deemed to be provided by reason of an employment or office,…
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Amendments to the Fringe Benefits Rules
By means of Legal Notice 205 of 2017, the Government of Malta has amended the rules relating to fringe benefits. The below is a summary of the main changes. What are Fringe Benefits? Fringe benefit are benefits provided…
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Amendment to the Deduction (Income from Employment) Rules
By means of LN 188 of 2017, the Government has amended the above-mentioned rules. These rules provide for a deduction against employment income where an individual (including any spouse where the responsible spouse has…
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New Tax Credits to Students
A new Legal Notice (LN 175 of 2017), entitled ‘Deductions and Tax Credits (Relevant Qualifications for Industry) Rules has been issued which provides for a tax credit of up to 70% of the study costs paid by a student…
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Income Tax Returns YA 2017 for Individuals
The deadline for the submission of personal income tax returns for basis year 2016 (year of assessment 2017) is the 7th July 2017, while payments of any tax due must be made by not later than the 30th of June 2017. How…
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Tax Credits for Micro Enterprises and the Self-Employed
By means of LN 140 of 2017, the Tax Credits for Micro Enterprises and the Self-Employed Regulations were amended so that family businesses as defined in the Family Business Act may with effect from year of assessment…
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Tax Credits for Micro Enterprises and the Self-Employed
Micro Enterprises and self-employed persons, carrying out a trade or business and which require assistance to expand, innovate or invest in its business in Malta, are eligible to tax credits in terms of Tax Credits for…
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Tax rebate for pensioners
By means of LN 22 of 2018, the Government has amended LN 42 of 2017 which had originally introduced new tax rebates for pensioners in line with what was announced in the Budget Speech for 2017. This new measure will…
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Knowledge Transfer
Introduction These Incentive Guidelines provide a framework for addressing skill shortages by supporting training and re-skilling of existing and new employees. The aim is to support knowledge transfer and the…
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Amendments to the Donations to the Malta Community Chest Fund Rules
By means of Legal Notice 2 of 2017, the rules applicable to donations made to the Malta Community Chest Fund (MCCF) were amended so that these would apply to donations made until 31st December 2016. Before this…
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Qualifying Employment in Innovation and Creativity
Introduction Enterprises require the availability of human resources and such resources may be developed through education and training. Such resources would need to be substantiated through knowledge and experience.…
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The Key Employee Initiative (KEI)
A new scheme has been introduced for third-country national individuals seeking employment and residence in Malta. The scheme ‘The Key Employee Initiative’ (KEI) has the aim of facilitating and providing a fast track…
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Tax incentives for Malta employers and pensioners
During the budget speech for the year 2017, the Maltese Minister for Finance has last Monday announced that a number of fiscal incentives will be introduced for employers who wish to contribute into Malta occupational…
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Commutation of Recognised Pensions
LN 262 of 2016 refers to the exemption from income tax applicable to the commutations of pensions. Rule 3 of the said LN prescribes that the total amount of capital sum received by way of scheme which is exempt from…
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Personal Tax Returns YA 2016
The Inland Revenue Department is currently submitting the personal income tax returns to individual taxpayers for basis year 2015 (year of assessment 2016). How we can assist? Our tax team can advise taxpayers to…