Malta income tax rates

[gozomark]

http://www.gov.mt/frame.asp?l=2&url=htt ... ird.gov.mt

click on "Tax Rates" and/or "Tax Calculator"

for 2008

single

0 -8,150 0%
8,151 -14,000 15%
14,001 -19,000 25%
19,001 & over 35%

married

0 - 11,400 0%
11,401 -20,500 15%
20,501 -28,000 25%
28,001 & over 35%

[gozomark]

for 2009

single

0 -8,500 0%
8,501 -14,500 15%
14,501 -19,500 25%
19,501 & over 35%

married

0 - 11,900 0%
11,901 -21,200 15%
21,201 -28,700 25%
28,701 & over 35%

[gozomark]

There is now a tax calculator

http://www.gov.mt/frame.asp?l=2&url=htt ... ird.gov.mt

[gozomark]

link updated

[loveday]

Hi Gozomark

Loving this forum - just introduced myself in the "working" section and got an almost instant welcoming reply from Kay which was lovely!

I was just wondering about the "married" and "single" allowances - myself and partner are looking to relocate to Gozo next summer, and as we are not married, do you have any ideas about how we would be treated for tax purposes?

[gozomark]

Hi, and welcome from me as well

I'm not sure, but the tax office website does say married and not co-habiting

[loveday]

thanks gozomark

I suppose it 's a bit early to be splitting such financial hairs - we've got 12 months to get all sorted! Right now I'm just trying to reassure myself that we can afford to rent our house out in the uk and earn enough in Gozo to be able to afford to live a "non-povery-stricken" lifestyle. We're not brave enough to sell up at this end....yet!!!!

Thanks x

[gozomark]

if you are both working, you will probably want to be taxed separately anyway

[loveday]

fair enough, good solution if it's not gonna end us up in trouble with the inland revenue!!!

[gozomark]

AFAIK, a married couple can elect to be taxed separately anyway

[HMC]

Hi there,

i was looking at the tax calculator (moved to http://www.ird.gov.mt/v1/services/taxca ... start.aspx )
but our situation is slightly different. Basically my wife and i are planning on moving from the UK to Malta for at least 12 months or maybe even permanantly. While residing in Malta I will be working most of the time abroad, making no income from Malta itself, my wife will be residing full time in Malta and will not be working. We will be completely self sufficiant financially. We are in our 40's not thinking of retirement for a good while. I would like to know where we would stand tax-wise, e.g. how much tax we would pay on income earned outsite the country before we made any concrete plans. Any adivce would be great. The IR Malta website doesnt cover this, at least not as far as i can see.

Many thanks in advance,
Harry

[gozomark]

Hi Harry, and welcome to the forum

You will be taxed on income you bring into Malta, with the same tax free allowances as above. If you will have paid tax on your income in another country, you may qualify for relief through application of a double taxation treaty as well.

[HMC]

Thanks for the welcome and thanks for the info Mark. Would you have a link that we can have a look at?

cheers

Hi Harry, and welcome to the forum

You will be taxed on income you bring into Malta, with the same tax free allowances as above. If you will have paid tax on your income in another country, you may qualify for relief through application of a double taxation treaty as well.

[gozomark]

I can't find a link on the IR website, but foreigners living in Malta (and who aren't domiciled in Malta) only pay tax on income they earn in or bring into Malta. There is no tax on capital or capital gains brought into Malta.

[gozomark]

taken from a respected accountancy firm (ie the one I use

"Malta offers attractive residence schemes with associated tax advantages including no taxation on worldwide income, with taxation only on Maltese sourced income and foreign income received in Malta. "