Malta Budget 2021
We gathered the most important highlights of the key fiscal and economic points of the Malta budget speech.
New Reasons To Move To Malta
People are rethinking their city life and choosing more valuable destinations to live in and this trend gets intensified by the increase of remote work caused by the pandemic.
Electricity Refund Scheme
Malta Enterprise has issued the Electricity Refund Scheme and businesses with one outlet may claim up to €1,500 while businesses with multiple outlets having more than one electricity bill even upto €7500.
Private Residential Lease Rules
A person who opt to have such rental income to tax at 15% on the gross rent is entitled to a tax rebate.
UPDATED Wage Supplement
New measures has been announced by the government to support wages and they will apply retrospectively form the 9th March.
Why Use A Property Holding Company in Malta
A Malta property holding company is frequently used to invest in real estate situated outside Malta. A property holding company may invest in a single property or else in a whole development project.
Stamp Duty And Tax On Property Reduced
Malta’s stamp duty and tax on property has been reduced to help the real estate sector amid the COVID-19 pandemic – Great news for property buyers and sellers!
VAT Yacht Leasing Scheme
In terms of the amended guidelines of the VAT Yacht Leasing Scheme, the general principle remains that 18% Maltese VAT applies on the leasing of pleasure boats, however the lessor can make use of ‘Use and Enjoyment’ provisions, meaning that the VAT charged would be proportional to the actual time that the yacht spends within EU territorial waters.
Covid-19 Wage Supplement
New measures has been announced by the government to support wages and they will apply retrospectively form the 9th March.
Tax Deferral Scheme
The aim of this scheme is to improve business liquidity by easing pressures on their cash flow arising from the economic impact of the coronavirus pandemic and encourage the retention of employees.