Hello everyone!
I would be very grateful if you can please help me to make sure I understood the laws correctly :-)
1) A foreigner who becomes resident of Malta, pays taxes only on income arisen in Malta or remitted to Malta.
2) A self employed person has to pay usual income tax % and social contributions, on taxable income.
3) VAT registration is mandatory if turnover is over Euro 20k I think
So if a self employed person has 100% of income paid by clients outside Malta into a bank account located outside Malta, are taxes, social contributions and VAT turnover calculated only on what is remitted to a Maltese bank account for living expenses? In compliance with the law, not looking for shortcuts.
If you know about the subject, that would be great to hear from you! Thanks.
Self Employed: non Maltese citizen resident in Malta
"income arisen in Malta" means work done in Malta. Not about where the clients are.
Ah ok, thanks! What if an X amount of months per year is spent doing the work abroad, for a foreign Client, paid into a foreign account? Would that part be non-taxable, while the one performed from Malta would be? Thanks!
Questions best left for a tax person I am afraid. They are busy changing a lot about the tax system now. A lot of it subtle “reinterpretations” of existing laws so it's not really clear what is going on.
Like right now they are fiddling what they consider as capital that you can bring here tax free etc
Good to know, thank you volcane! That is not a good sign then.
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Information Date : 3rd October 2012
I am NOT a Financial Advisor, I am just another expat. If in doubt seek professional advice.
