Taxation in Malta
Recent forum posts
Hello,Our small retail company here in the UK is looking to open a shop in Monaco. What are the requirements and procedures?Best
Total Posts: 1 Last post by gracechakor86
Art Football is a FIFA endorsed charity event, 16 nations taking part in the world’s only combined music and football world cup tournament.Each country consists of individuals from the world of sport & entertainment, raising money for terminally ill children around the globe. The UK3LIONS football team represent UK every year at the tournament.ArtFootball World Cup. A unique Football
Total Posts: 1 Last post by baptist
Taxation in Malta
5% Effective Corporate Tax Rate - Malta's Tax Rate is lower than traditional offshore tax systems.
Benefits for Private Clients
As a foreign resident of Malta you only pay tax on income received or omitted to Malta – 0% tax payable on worldwide income; 15% if you enjoy permanent residence; or 25% tax if ordinarily resident and then only on income remitted or arising in Malta.
With 0% capital gains tax on income outside of Malta, 0% wealth tax, 0% inheritance tax,Malta is a popular place to retire or live.
Essentially a civil law system, Malta has modelled its commercial law – tax, company, trusts and financial services – on UK law and is fully compliant with EU law.
Benefits for Commercial Clients
With its central location in the Mediterranean, Malta is a superb hub with excellent transport links to the rest of Europe as well as the Middle East and beyond.
Part of the Eurozone with a stable economy and a Government intent on encouraging foreign business through the investment and development of the communications infrastructure, Malta offers companies a competitive landscape within which to pursue to their commercial endeavours.
Added to which an already existing multi – lingual, multi skilled and highly educated workforce with relatively low labour costs, Malta is in prime position to offer prospective employers a beneficial and secure future.
Some of the financial and tax benefits of doing business in Malta:
- Over 60 double taxation treaties worldwide
Full imputation system with an effective corporate tax rate of 5%.
- Attractive High Net Worth tax rules
- No capital taxes and no wealth taxes
- Tax refunds are legally guaranteed and paid within 2-3 weeks of application
- Use of IFRS functional convertible currency – for statutory capital, financials, tax and tax refund purposes
- Revenue rulings are binding for 5 years or 2 years following a change in legislation
- Informal tax confirmations and advanced tax rulings
- A single, approachable, financial regulator, the Malta Financial Services Authority (‘MFSA’)
- No withholding taxes on dividends, interest, royalties or other expenses
- No transfer pricing, thin capitalisation or controlled foreign company rules
- No stamp duty on share issues or transfers
- No Exit Taxes
VAT in Malta
VAT in Malta is 18% with a reduced rate of 5% - 7%
Organisations that can assist with Taxation
More Group is an international accounting firm specialising in tax accounting, business incorporation, and trustee services. Contact us today to book your free initial consultation.
Sovereign offers a range of advisory and support services to assist companies of all sizes to establish successful business operations in foreign markets.
Papilio Services Limited is a leading independent Maltese service provider with a focus on corporate, residence and tax advisory services to private clients and businesses worldwide. We provide holistic tailor made solutions for persons or businesses wishing to set up business in Malta.
Your One-Stop Shop for Cross Border VAT Compliance
Legal Absolute provides a bespoke advisory service across a range of areas for international clients. We combine a fresh approach with professionalism and expertise, offering comprehensive, tailored services in today’s global and competitive market.