Taking my job to Malta, tax considerations?

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Taking my job to Malta, tax considerations?

Postby sdminc » Fri 29 Jun 2007 04:39

I'm intending to move to Malta. I work for an american company and have some flexibility over how I get paid.

I could for instance take contractor status or remain as a permanent employee as I am now whilst living in the UK.

I work in software development. The research I've done so far makes me think I should do the following. Reside in Malta, take permanent residency and have my salary remitted to a bank account in Malta. I would hope to pay a flat rate of 15% income tax as a permanent resident.
I'm not taking work from a local maltese resident, my employment can be done from anywhere and I travel around a fair bit anyway.
15% tax seems pretty fair, but what I'm really hoping to get from you experienced folks is more of a feel for the following:

Are there any other tax considerations I should consider? Am I liable for social security payments etc?

In terms of my employer transferring my salary to me in Malta, will they have to register and pay employers tax. We won't be opening a sales office or any business in Malta, it's just me living there and working from home sometimes.

Should I consider not taking permanent residency? Can I take advantage of low tax in another way? Could my company save money by paying me a monthly amount as part of a contract, and it would just be my choice to have that paid into Malta?

Appreciate any advice or assistance! Has anyone tried talking to the Maltese IR before moving to Malta to help with these type of questions? Were they helpful? Would a tax specialist be more useful or good value?

Thanks all...
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