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Personal Tax

The services and advice we offer range from:

• Income tax advice and tax planning
• Applications for residence
• Applications for a visas, work permits and assistance with procurement of Identity Cards and driving licenses
• Personal tax compliance
• Relocation assistance
• Advice and assistance in buying and selling property in Malta
• Capital gains and succession planning

With regards to expatriate schemes , there are different tax criteria applicable and will advise on the suitability on the client as this is highly dependent on your personal financial and family circumstances. Backed by over 2 decades of specialised experience in this field, we will recommend the best options and timings structured on your specific circumstances.

Malta offers attractive residence schemes with associated tax advantages including no taxation on worldwide income, with taxation only on Maltese sourced income and foreign income received in Malta. Foreigners becoming resident under the Malta Permanent Resident Scheme are taxed at a flat rate of 15%. Foreigners may also take up residence and be subject to the normal rates of income tax with no minimum. There are no net wealth or real estate taxes whilst a tax on capital gains arising from the sale of immovable property in Malta does exist, this does not apply to the sale of one's main residence if the property is owned and occupied for at least three years.

Malta encourages foreigners to take up residence in Malta. The policy is supported by an attractive tax structure, amongst other advantages. Foreigners residing in Malta are not taxed on their worldwide income but only on Maltese source income and on foreign income remitted to Malta. Malta’s tax legislation provides for relief from double taxation, whether through negotiated double tax agreements with a substantial number of countries worldwide, or through unilateral provisions. Certain foreign income remitted to Malta qualifies for a reduced withholding rate of foreign tax (this applies typically to dividends, interest and royalties), or is exempt from foreign tax (this applies typically to private pensions and to certain capital gains). The provisions of each particular treaty entered into by Malta must, however, be consulted to determine eligibility.

EU Registration Certificate

An individual may also take up residence in Malta other than in terms of the Permanent Residence Scheme. EU nationals intending to take up residence in Malta must register with the local Immigration Authority as well as the Tax Department. An EU national shall be allowed to stay in Malta providing that he has enough funds to sustain himself, private or State health cover and a place of abode.

Taxation

For tax purposes an individual is normally regarded as being resident in Malta for particular year if, in that year, his stay in Malta exceeds 183 days. As already noted, however, foreigners residing in Malta are not taxed on their worldwide income, but only on Maltese source income and capital gains and on foreign source income remitted to Malta. Foreign source capital gains are not taxed even if remitted to Malta. The applicable income tax rates (Tax rates 2011) are, however, the normal rates of income tax applicable to residents, which are as follows:

Household Effects - EU Citizens may import their household effects into Malta free of VAT and import duties.

Car - EU citizens may register a car in Malta without the payment of any tax provided that they can prove that they have transferred their residence to Malta and have owned the car for 24 months prior to it being brought into Malta. The car must be brought into Malta within 12 months of taking up residence.

We will also personally assist you throughout the documents preparation process and application to ensure success in application. We will also follow on other basic services to facilitate your life here in Malta such as guidance to opening of bank accounts, European Health Insurance, ID cards etc. We also offer recommendations with regards to immovable property purchase and rental. We are not affiliated with any specific estate agents thus ensuring that any third party advice opinion you require from us with regards to real estate purchase or rental is not partial or biased.

Please contact us at info@johnhubermalta.com for more information.