Special Tax Rates for individuals working in Financial Services & Gaming Industries in Malta

In order to benefit from these special tax rates all of the criteria below must be satisfied:

    1. 1 Employment income of at least €75,000 (excluding bonuses or benefits and adjusted annually in line with the domestic retail price index) which is taxable in Malta;
    2. 2 be employed by a company licensed by the MFSA or the LGA to hold an “eligible office” in terms of an employment contract which is subject to the laws of Malta;
    3. 3 prove to the MFSA or the LGA that:
      • any employment contract is genuine and effectively performed in Malta
      • the applicant is a holder of professional qualifications in line with the HQP Rules; and
      • the applicant performs activities within an eligible office
      • the applicant must never have been domiciled in Malta and does not intend to reside in Malta permanently
      • has not benefitted from the special domestic tax rules applicable in respect of investment services and insurance expatriates with respect to relocation costs and other expenses (under article 6 of the Income Tax Act);
      • must be financially stable with a regular income and be able to support his/her family without the need to rely on any social assistance from the Maltese system
      • the applicant must habit accommodation which is seen to be normal for a comparable Maltese family and adheres to the general health and safety standards of Malta
      • the applicant must be in possession of a valid travel document and
      • hold adequate private healthcare insurance not only for themselves but also covering all family members

The special 15% tax rate can only apply for a maximum period of 5 consecutive fiscal years (EU & EEA nationals) and 4 years for Non-EU/EEA nationals.

Don’t hesitate to ask one of our highly experienced team members if you have any queries about the above by filling out the message form below or here: Tel: (+356) 2131 0800 | Email: perry@perry.com.mt