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To fully understand the tax opportunities that arise out of taxation of non-domiciled residents in Malta, it is essential to understand the meaning of domicile and resident status under Maltese law.
Successive Maltese governments have sought to enter into double taxation agreements with other countries to encourage international trade and the growth of financial services, while at the same time curbing tax evasion.
If you are a resident and work in Malta, you are subject to pay Income Tax to the Inland Revenue Department. Taxation in Malta follows similar employment brackets to the rest of the EU. Income Tax contributions scale up as income increases and there are five brackets where the range spans from 0% up to 35% taxation on income. There are three rates - one for single individuals, one for married couples and one for parents.
Malta and Curacao have started negotiating a double taxation agreement aimed to facilitate business and provide for exchange of information on tax matters to combat international tax avoidance and evasion. The agreement needs to be signed and ratified before it enters into force.
According to the report drawn up by the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes, Malta is in full conformity with the international requirements on transparency standards and exchange of information for tax purposes. This gives testimony to the strong reputation that Malta has as a law-abiding jurisdiction. To re...