Using Malta in Private Clients Tax Planning

Dr. Jean-Philippe Chetcuti | 04 Jun 2011

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In April 2011, STEP held its International Conference in Malta.  Chetcuti Cauchi tax partner and Jean-Philippe Chetcuti, technical chair of the Council of STEP Malta branch, delivered a presentation on the tax planning opportunities Malta provides for private clients, High Net Worth Individuals and HNW families.

Personal Taxes

  • No Tax on Foreign Source Capital Gains
  • No Tax on Foreign Source Income not received in Malta
  • No Tax on Savings / Capital remitted to Malta
  • No Capital Gains / Property Tax on resale of own home after 3 years

Other taxes

  • No Local Taxes / Municipal Taxes / Rates
  • No Waste Collection Taxes
  • No Property Taxes / Window Taxes
  • No Wealth / Estate Taxes
  • No Inheritance / Death Taxes.

Certificate of Residence for Double Tax Treaty Relief
> 60 Double Tax Treaties

Only tax on income arising in & remitted to Malta:

  • Tax rates from 0 - 35% (Ordinary Residents)
  • Tax rate locked at 15% (PRS)
  • Tax can be capped at Euro4,200 (PRS) – set by law, no need for negotiation with tax authorities

Favourable VAT Scheme for Registration of Yachts in EU (5.4%)

Favourable environment for Registration of Private Aircraft

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