This tax is irrespective of whether the income is received in Malta or otherwise. Additionally, as declared in , an individual who is a term resident or holds a permanent residence certificate or card will no longer be subjected to income tax in Malta under the remittance basis of taxation but will be taxed in Malta based on worldwide income.
The tax rates for individuals in Malta vary based on their residency status, with different rates applied to residents and non-residents. Know more about Tax for Individuals. Malta implements three different kinds of tax rates for individual residents based on their marital status, listed below:. Taxpayers who are not residents of Malta are subject to the following tax rates for income tax purposes on their income arising in Malta:. Below is a breakdown of tax rates for non-residents in Malta from The Office of the Commissioner for Revenue in Malta.
As per Malta's personal tax system, the payment of Personal Tax is carried out in three ways:. Finally, Malta does not levy inheritance tax. However, the causa mortis transfer of shares in Maltese companies and immovable property situated in Malta are subject to stamp duty. Certain transfers of shares in Maltese companies may be exempt from stamp duty. Individuals who are over the age of 16 and who have not yet attained the retirement age of 65 years, and who are in insurable employment are liable to pay Social Security Contributions.
Malta offers attractive residence schemes with associated tax advantages no taxation on worldwide income. Taxes will be based only on Maltese sourced income, foreign income, and gains received in Malta. You can benefit from a flat rate of taxation on foreign income remitted to Malta and travel visa-free to 26 Schengen countries.
Get a deeper understanding of the MPRP through our guide. Foreigners may take up residence in Malta and be subject to the normal income tax rates with no minimum tax or remittance requirements. No net wealth or real estate taxes are levied in Malta. However, the sale of immovable property and other listed capital assets are subjected to capital gains tax.
