taxes

Buying properties in Malta

The Maltese government does not restrict anyone from purchasing property in Malta as long as all requirements of property acquisition permits and licenses are followed accordingly. As a general rule, the properties acquired should not be used for rentals or modified into other structures—they should be solely used for residency.
 

 

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Double taxation treaty between Malta and Switzerland

Double taxation often crops up for companies doing business internationally and can be such a headache to the modern business world. Maltese citizens contemplating of doing business in Switzerland and Swiss citizens who want to do business in Malta vice versa will be relieved to know of the June 2012 standing treaty that prevents double taxation for legal entities carrying out taxable activities in either of the two states.

 

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Understanding the Maltese Double Taxation System

The Maltese government greatly supports the business sector in Malta and one of its primary goals is to create a more convenient atmosphere for both local and international businesses. In order to moderate one of the barriers which deter the growth of international companies, Malta strongly leverages the double taxation system. This move has proved rewarding to both Malta and foreign investors who have taken a keen interest in doing business with Malta. Over 70 DT agreements have been signed so far with more than 60 of them already into effect.
 

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Registering for tax with the Maltese Tax Authorities

Registering for tax in Malta is no different from other countries and it actually comes with a number of benefits. Every business operating in Malta is mandated to register for tax with the Department of Inland Revenue in Malta in order to legally operate on the market. To be recognized as a taxpayer, you should obtain a Maltese PE number, which is also issued out by the department of inland revenue. This will allow you to legally retain and pay taxes for both your company and for your employees.

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Dividend Tax charges in Malta

Malta’s taxation system is closely similar to that of Great Britain but there are some slight variations when it comes to aspects like the dividend tax. The government's strategy on dividend tax affects local companies and foreign businesses differently. Dividend tax is imposed on locals (domicile and tenant) companies — they are obligated to pay their taxes on returns from capital gains and other forms of income.

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