New tax benefits announced for employers, employees and the self-employed

John Huber & associates

01 November 2017

The Government of Malta has announced incentives to encourage employers and employees to invest in voluntary private pensions. Employers will now get a maximum tax credit of €150 for every €1,000 pension product bought for their employees. If the outlay is less, the credit would be 15%.  Employees who participate in the purchase of such products would not be considered as getting a new taxable fringe benefit and they would be tax exempt up to the amount of €150.

The incentives also applies to self-employed persons who set aside some of their money for a private pension.