• Service: Tax, Global Mobility Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 2/4/2014

Malta - Individual tax proposals included in budget legislation 

February 4:  Legislation has been presented to the parliament, to implement measures that were presented in the government’s budget for 2014.

Included in the legislation (referred to as the “Budget Measures Implementation Bill, 2014”) are proposals to:

  • Introduce a new tax bracket for individual income tax purposes, so that the top tax rate would be 35% on amounts of €60,001 and greater
  • Extend the tax rates applicable to Maltese resident individuals to individuals who are residents of EU / EEA countries
  • Broaden the application of the capital gain tax, so that it applies to any gains or profits arising from the transfer of any debt claims or intellectual property held as a capital asset
  • Address tax evasion, including the imposition of a 15% withholding tax on gross rental income
  • Change the rules for duty imposed on certain documents and transfers

Read a January 2014 report [PDF 100 KB] prepared by the KPMG member firm in Malta: Main features of the Budget Measures Implementation Bill, 2014

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