New tax benefits announced for employers, employees and the self-employed

The Government of Malta has announced incentives to encourage employers and employees to invest in voluntary private pensions. Employers will now get a maximum tax credit of €150 for every €1,000 pension product bought for their employees. If the outlay is less, the credit would be 15%.  Employees who participate in the purchase of such […]

Written By ACT Team

On September 11, 2017
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The Government of Malta has announced incentives to encourage employers and employees to invest in voluntary private pensions.

Employers will now get a maximum tax credit of €150 for every €1,000 pension product bought for their employees. If the outlay is less, the credit would be 15%.  Employees who participate in the purchase of such products would not be considered as getting a new taxable fringe benefit and they would be tax exempt up to the amount of €150.

The incentives also applies to self-employed persons who set aside some of their money for a private pension.

How can we help?  

 

For further information, please contact us on [email protected]. ACT can help you understand the changes to the income tax, accounting, corporate and VAT rules and how these can impact your business.   

 

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on +356 21378672 or send us an email on [email protected].