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Articles

Tax Code in Malta

Updated on Tuesday 13th February 2018

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Tax-Code-in-Malta.jpgThe taxation structure in the Maltese archipelago is observed as a beneficial one by foreign investors interested in a stable and appealing business climate. The remittance-tax system in Malta involves foreigners who are subject to taxes for two different kinds of profits in this country: Maltese sourced income and the amount of foreign-sourced profits remitted to Malta. Companies must comply with the tax regulations in Malta at the time of registration and proceed in accordance. Our company formation agents in Malta are at your disposal for any information about how you can set up a company in Malta.
 

The remittance-based tax system in Malta

 
Profits of foreigners in Malta are taxed in compliance with the remittance-based tax structure which involves the taxation of two types of incomes. The first one is the Maltese sourced income and capital gains which are subject to the income tax in Malta which at the moment is set at 35%. Furthermore, the Maltese personal income tax is applicable to employees in Malta. As for the second type of profits which are subject to the income tax, this is the foreign sourced income but only to the amount of money remitted to Malta. In other words, foreigners must pay taxes for profits made outside Malta but only for the sum which is remitted in this country.
 

The VAT in Malta

 
The VAT in Malta is set at a rate of 18% and represents the standard tax. A rate of 7% is applied for services offered in the tourism sector. The 5% VAT rate is imposed on particular categories of food products, clothes, medical equipment, and cultural events. If you would like to know more about the VAT registration of companies or about the company incorporation in Malta, you may address your inquiries to our specialists in company formation in Malta
 
The tax code in Malta comprises the following acts which must be observed when establishing a company in Malta:
 
the Income Tax Act;
the VAT Act;
the Income Tax Management Act;
the Commercial Banks Act.
 

The corporate tax in Malta

 
LLCs, associations, and partnerships established in Malta are subject to a corporate tax of 35%. This is applicable to capital gains and profits of companies registered in Malta or without having the business address in this country but performing the activities in this territory and registering profits. Having a relatively high corporate tax, Malta offers to companies no withholding taxes on dividends.
 

Tax exemptions in Malta

 
Malta signed many double taxation agreements with countries worldwide which help entrepreneurs from paying twice for the incomes gained. A flat tax rate of 25% is applicable to the profits of companies from countries which haven’t signed such a convention yet. 
 
The tax structure for companies and residents in Malta must be fully understood before having any activities. If you want to register a company in Malta and you need information in this direction, you can contact our team of company formation consultants in Malta.
 
 
 

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