By means of Legal Notice 298 of 2023, the Government of Malta has amended the fringe Benefit Rules. This amendment to the Fringe Benefits Rules establishes the home loan interest rate, rather than the Main Refinancing Operations rate, as the benchmark rate for determining the taxable value of home loans on a permanent basis as from the year of assessment 2025. The benchmark rate will be the average of the rates on loans to residents of Malta for the purchase of a house, as published in the Central Bank statistics on interest rates, over a 12-month period (October to September). The value of fringe benefits on other loans will remain the same.
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