A minimum tax applicable to individuals who are ordinarily resident but not domiciled in Malta has been introduced last year.
Individuals who are subject to this minimum tax are obliged to make payment of such tax by not later than 30th June, 2019 (in their personal tax return for calendar year 2018 / Year of Assessment (YA) 2019).
In general, individuals who are ordinarily resident in Malta but not domiciled in Malta and who have derived foreign sourced income which amounts to EUR 35,000 or more during 2018 are now subject to a minimum personal income tax, even if such foreign sourced income has not been remitted to Malta.
The minimum tax applicable under these new rules amounts to EUR 5,000.
Certain exemptions may apply.
Individuals who have derived foreign sourced income of EUR 35,000 or more but are already subject to personal income tax on local sourced income (such as employment income) may not be subject to the full minimum tax.
For more information on these rules on whether you can benefit from such rules kindly contact
Franco Falzon C.P.A. LL.M
T: +356 2010 7771 (office)
M: +356 9989 5679 (mobile)
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