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19 April 2010
One of the tax measures introduced by Act 1 2010 (Budget Implementation Act) provides for an option to foreigners to be taxed at 15% on income derived from employment in Malta.
The 15% tax rate will be available to foreigners who are employed in target sectors (to be defined). Under normal rules, a foreigner deriving employment income from Malta is taxed at increasing rates up to a maximum of 35%. This new measure will be of particular interest to Maltese and international operators who require to station foreign specialised personnel to Malta.
This entitlement will be subject to a number of conditions that will be prescribed by rules that are expected to be published soon.
For further information please contact Dr Damien Fiott or Dr Antoine Fiott.