Malta

WHY CHOOSE MALTA

There are various opportunities to be had in Malta when it comes to the financial industry. There are a number of low-cost tax-efficient services there that are, furthermore, EU-compliant.

Maximum income tax in Malta is 35%, this is when an individual (single) receives over €19,500 per annum and/or (married couple) receive a combined €28,700 or more each year. Capital gains are treated in the same way and taxable as income. However, there are some special rates. For example, the special 27.5% rate of tax applicable to non-resident shareholders in International Trading Companies; the special regimes applicable to officers and/or employees of offshore companies, Freeport companies, insurance and mutual fund companies; the 'final withholding tax' of 15% on income from certain types of investment and income from part-time employment or self-employment, also at 15% (subject to various rules). One has to bear in mind, however, that Malta has various double-taxation agreements with a number of different countries.

Employers and employees make social security contributions in Malta on a graduated scale: at the maximum weekly pay, the employee and employer each pay 10%. The employer deducts the social security contribution along with income tax. The self-employed also make contributions. VAT in Malta is currently 18%.