Malta
Taxation in Malta
Malta Business Experts
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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
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> Papilio Services Limited
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.
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> Cross Border VAT Support Ltd
Your One-Stop Shop for Cross Border VAT Compliance
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> Sovereign Group
Sovereign offers a range of advisory and support services to assist companies of all sizes to establish successful business operations in foreign markets.