The Highly Qualified Persons scheme offers beneficial fiscal residence connotations to highly ranked personnel within the local financial, gaming/innovation or aviation sector. Such persons are entitled to a flat tax rate of 15% on the income derived from such eligible office. For more information on this Residence Scheme kindly click here.
For the aviation sector, the scheme used to be restricted to companies holding air operators' certificate issued in terms of the Civil Aviation Act. By virtue of Legal Notice 16 of 2014, the scheme has now been extended to cover also companies holding an aerodrome license issued in terms of article 71 of the Air Navigation Order with retrospective effect as to year of assessment 2013. The position of Chief Executive Officers within such companies has also been included.
Malta’s Passport Programme to be renewed with some changes expected to be made
Income Tax returns (together with payment) for the Year of assessment 2020 is being extended to 31 July 2020.
The rules, inter alia, set out the criteria that must be satisfied for an assignment to be regarded as valid for th...