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Article 31D of the Income Tax Act provides for a 15% flat withholding tax rate on rental income. The 15% tax rate is valid both for commercial and residential properties. This is a significant reduction from the usual 35% tax rate in Maltese tax laws.

However, this rate is not applied automatically. One must fill in the applicable form (TA24) and pay the 15% tax on the gross rental income by 30 June of the subsequent year. If this is not done, one will have to includ...

Micro Invest is a scheme launched by the Malta Enterprise, made effective from 1st January 2014 to 31st December 2020. The scheme unanimously encourages small to medium-sized enterprises to invest in their business, in order to grow, develop, and innovate their operations. All eligible entities benefiting from this scheme will be comprehensively supported through a tax credit calculated as a percentage of eligible expenditure and wage costs. The maximum eligible credit stands at €50,000, w...

Malta is a small country located in the Mediterranean Sea, positioned between Africa and Europe. It is home to both budding entrepreneurs and established business owners. It is the ideal country to operate a business, offering great weather, short transportation times, and a skilled workforce. With its easy accessibility to Europe and Africa and membership of the European Union, business owners are constantly showing their keen interest in starting a company in Malta. If you are one of the...

Are you planning to start a self-employed business or a company in Malta? Have you thought of hiring a good tax advisor for your company yet? If not then you must. A tax advisor can help you with the taxes involved and also give you professional advice on the formation and running of the business. However, it is very important to hire the right tax advisor so that you can obtain the biggest benefit for your business. As a business owner, you are already occupied with running the business, ...

As a business owner, it is very important to understand the importance of taxation for your business. Taxation can present a significant burden on a business, and therefore it should be managed carefully and by appropriately qualified persons. A tax advisor can help you with the entire process of income tax and VAT return preparation, submission and tax liability calculation and payment. A professional CPA can help you with the right strategies and planning that is required to ensure that you...