Unlike many countries, Malta doesn’t have a single Tax slab that covers all the people and residents of Malta. They have different tax rates of every individual in Malta. The residents who are domiciled in Malta tend to have a different tax rate when compared to the people who are not domiciled in Malta. These tax rates are implemented by the Maltese government because of better benefits and to boost the growth of the island nation. In this article, we will divulge every single detail you need to know about the Malta tax regime.
Both the citizens of Malta and the individuals domiciled in the country are charged the income tax based on the amount they generate throughout the world. If any citizen of Malta who is not staying in the domiciled status is charged the income tax based on income generated and remitted to Malta. That person need not pay the tax for the income which is generated outside the country which is not remitted back to Malta.
On the other hand, when a person is married to a residing Citizen of Malta, then that individual has changed the income tax for all the income generated and collected throughout the world. When taking into account the taxes levied to a non-resident individual of Malta, that person needs to pay tax for the amount and capital gains produced within the country of Malta.
However, there are various redemptions and deductions one can avail from the income tax if only that person is a residing citizen of the country or has a residence in Malta. The income tax is calculated on terms of the calendar year and taken on basis every year. For individuals and athletes who take part in international sports competition representing Malta are subject to a lower tax slab.