Malta will be launching a new citizenship by investment programme. The new individual investor programme will be a good opportunity for investors to contribute to the local Maltese economy whilst at the same time benefiting from a European citizenship.
Global Residence Programme for non-EU in force
VistaJet, the world's leading Global aviation company, celebrated the official inauguration of its new operations in Malta.
The Government of Malta has announced that a new permanent residence scheme shall be launched by end of May. It is expected that the new permanent residence scheme retains elements of the former Malta Permanent Residency Scheme, a scheme that was available to both EU and non-EU nationals seeking to transfer their tax residence to Malta and benefit from its high quality and tax-efficient regime.
On Wednesday 24th April 2013, Malta and Russia have signed a double taxation avoidance agreement. The agreement was signed at the Russian Finance Ministry Maltese ambassador Raymond Sarsero, and the Deputy Minister of Finance, Sergey Dmitrievich Shatalov. The treaty signed a few days who with Russia is expected to be ratified shortly. The signing of this double taxation treaty maintains the drive of successive Maltese administrations to conclude tax treaties with important trading partners as well as with emerging nations.
Through Legal Notice 106 of 2013, as from 1st January 2012 employees working in development of innovative and creative digital products can benefit from a new incentive whereby they may choose to have their employment income in respect of work exercised in Malta to be chargeable at a flat rate of 15% tax in lieu of progressive rates of tax which can be as high as 35%.
The 2013 Malta Budget was approved on 8th April 2013 and saw a reduction of the top income tax rate from 35% to 32% for individuals earning between €20,000 and €60,000 a year.
Malta and Liechtenstein have recently finalised six months of negotiating a double taxation agreement.
Malta has ratified the Convention on Mutual Administrative Assistance in Tax Matters.
Malta has presented Documents to ratify the Vienna Convention on the Law of Treaties