Tax paying and calculating

income tax alone will be 3450 euros approx

for SSC use this caclulator http://www.ird.gov.mt/services/ssccalculator.aspx

as for when you will pay tax that will depend if you are self employed or employed by a company and down to their methods of payment and tax collection - many are paid and taxed accordingly  on PAYE basis, just like UK. but tax yr end is december not march

Just make sure that your deductions being taken and are actually being paid to the IRD.

tax year is calendar year, so in first year you will pay substantially less tax

thax for the link toonarmy9752, it's very usefull

since I'll be working for UK company they are probably doing it like in Uk

thx for your help

just be careful if and or when you bring the cash in you may be subject to tax on it in Malta - check out the double taxation treaty between malta and Uk

Ensure that your employer does not make too many deductions on your behalf in respect of your presumed income tax liability between now and 31st December, 2013.

Otherwise, you will have to wait until at least December 2014 for a refund of overpaid income tax from the Inland Revenue Department.

bringing up old topic, couse i need a bit of help

since this will be now my first full year in malta full tax started to apply, but i think it's to much

now I'm on married rates , as my wife doesn't work so I was told that this is best for me
looking at tax rates for this year I agree

but going to tax calculator i noticed that there are 5 diff. categories:

single
single parent (married rates)
single (parent rates)
married
married parents

Now, under married parents there is a note:
A parent who maintain under his or her custody a child or paid maintenance (determined or approved by Courts) in respect of his or her child and such child was not over 18 years of age (or not over 21 years if receiving full-time instruction at a tertiary education establishment) and not gainfully occupied, or if gainfully occupied did not earn income in excess of €2,400, is entitled to the parent rates of tax.

I don't understand this:

or if gainfully occupied did not earn income in excess of €2,400, is entitled to the parent rates of tax.

What does this 2400 stand for? monthly income must not be over 2400 or what?

I tried to place my pay in calculator and it gives out yearly ammount of tax that I'll need to pay. Looking at that, and ammount payed this month - there will be a large diff.

u need to find out who that relates to exactly ?
a single parent or ?
potentially it also relates to u within the married parents... u r married and u have a child right ?
ur wife does not make more than 2400 in a year so perhaps that means that u can use the married parents rates of tax..
the question is, does this note only relate to single parent or married parents... if it relates only to single parents then u forget it...

best thing is to call the inland revenue when u r stuck, after u have searched their entire website... or try to make some time to physically go down there to talk to someone, if u donot have a tax agent... these things can get tricky and its best for u to not have misunderstandings...

speak directly with the tax dept they are very good and will help you. the personal call will be well worth it

Duxx wrote:

bringing up old topic, couse i need a bit of help

since this will be now my first full year in malta full tax started to apply, but i think it's to much

now I'm on married rates , as my wife doesn't work so I was told that this is best for me
looking at tax rates for this year I agree

but going to tax calculator i noticed that there are 5 diff. categories:

single
single parent (married rates)
single (parent rates)
married
married parents

Now, under married parents there is a note:
A parent who maintain under his or her custody a child or paid maintenance (determined or approved by Courts) in respect of his or her child and such child was not over 18 years of age (or not over 21 years if receiving full-time instruction at a tertiary education establishment) and not gainfully occupied, or if gainfully occupied did not earn income in excess of €2,400, is entitled to the parent rates of tax.

I don't understand this:

or if gainfully occupied did not earn income in excess of €2,400, is entitled to the parent rates of tax.

What does this 2400 stand for? monthly income must not be over 2400 or what?

I tried to place my pay in calculator and it gives out yearly ammount of tax that I'll need to pay. Looking at that, and ammount payed this month - there will be a large diff.

The 2400 is the yearly income allowed for any children that you have who may be working, not for your income

ok, thx all for help
will try to contact tax dept.

I have one excel file where you just enter your monthly earnings and it calculates you your tax, needless to say the amount is much lower then what our accounting dept. calculated