cONTINUE rEADING
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
