New rules for taxation of financial services professionals - 15% rate
Malta has recently introducing a new 15% tax rate applicable to financial services professionals working in Malta. The rate will apply for 5 years, following which the professional will be subject to normal tax rules. The new rules are part of the island's continuing drive to attract high quality professionals from overseas in order to service the rapidly growing Maltese financial sector.
It is expected that the new rules will be greeted as another important feature of the Malta offering. Indeed when coupled with the highly competitive corporate tax rate and the fact that Maltese funds can be structured as tax neutral vehicles, it is likely that these new rules will further enhance the jurisdictions attractiveness in the eyes of international wealth managers.
