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Malta further reduces Personal Income Tax

As part of a series of measures in traduced in the budget measures, the personal income tax rate for individuals has been further reduced from 29% to 25% (for earning up to EUR 60,000 per annum). The said reduction, which applies for all forms of tax computation – simple, married or parent rate, represents the final installment of a progressive reduction in the income tax rate which has been decreased, over the course of three (3) consecutive budgets from 35% to 25%.

Whilst, a series of favourable personal income tax regimes, had already been enacted for high ranking officers within regulated entities, such as insurance, financial services and gaming, this further reduction, is not tied to any specific sector or regulated business. Effectively, all Maltese resident tax payers, can now benefit from the aforesaid revised tax brackets, thereby providing an added incentive for expats to establish their residence in Malta.

To read more about the Malta Tax Advantages follow this link.

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For comprehensive information about the Malta Company uses by Individuals or Corporations follow this link.

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