Income from Sports Activities Rules

By means of Legal Notice 147 of 2024, the Government of Malta has published new rules relating to the taxation of income derived from sports activities. The rules apply to individuals who derives income from an employment, consisting of emoluments for services to which these rules apply, unless he or she opts to have the […]

Written By Stephen Balzan

On July 8, 2024
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By means of Legal Notice 147 of 2024, the Government of Malta has published new rules relating to the taxation of income derived from sports activities.

The rules apply to individuals who derives income from an employment, consisting of emoluments for services to which these rules apply, unless he or she opts to have the said income charged to tax at the standard

rates laid.  Such individuals will be charged to tax on all such income at the rate of 7.5% of the gross amount of the income so derived.

The tax chargeable shall be final and no set-off or refund shall be granted to any person in respect of the tax so charged.

These rules apply to services that are provided in the course of a sports activity, or that are directly related to a sports activity, and that are provided on a full-time or part-time basis by an individual in his capacity as:

(a) a registered player or athlete

(b) a licensed coach

(c) a licensed match official

(d) a match analyst

(e) a team manager or sporting director

(f) a sport administrator

(g) a team doctor

(h) a team physiotherapist

If you need any help or assistance with the above-mentioned, please do not hesitate to contact us on [email protected]

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].