Hello, my father is thinking of relocating permanently to Malta, and as such, move his retirement pension to a Maltese bank account.
He receives part of his pension from UK (around 500 € monthly) and the other from Spain (around 800 €). We have read that private foreign individuals residing in Malta would be paying 15 % of tax for their retirement pensions that are paid into a Maltese bank account.
Is this right? or is it only for higher pensions? are all pensions taxed here in Malta regardless of their amount?