Malta amends the Highly Qualified Persons Rules

By virtue of LN 141 of 2018, Malta has amended the Highly Qualified Persons Rules to provide tax incentives to highly qualified persons who are employed in the Assisted Reproductive Technology sector.   The tax incentives which have to date now been granted to employees employed within certain eligible offices in companies in possession of a financial services […]

Written By ACT Team

On May 2, 2018
"

Read more

By virtue of LN 141 of 2018, Malta has amended the Highly Qualified Persons Rules to provide tax incentives to highly qualified persons who are employed in the Assisted Reproductive Technology sector.  

The tax incentives which have to date now been granted to employees employed within certain eligible offices in companies in possession of a financial services or a gaming license as well as aviation companies consisted of a flat rate of tax of 15% on the employees’ employment income, provided the said employees are in receipt of an annual employment income of at least Eur75,000 (excluding fringe benefits).  Any income in excess of Eur5,000,000 will not be subject to any tax.  Eligibility for the reduced rate of tax is applicable for 5 years for EU nationals and 4 years for TCNs.  Such individuals may apply for a one time extension of 5 and 4 years respectively. 

Embryologist, responsible persons and lead quality managers have now been included in the list of eligible offices which may with effect from year of assessment 2018 be entitled to benefit from the above-mentioned tax incentives. 

How can we help?

ACT is in a position to advise and assist you in the preparation and submission of your application as well as the supporting documentation to the pertinent authority for you to become a highly qualified person in terms of these rules.  We are also in a position to advise and assist you with your annual tax compliance requirements including preparation and submission of your annual income tax returns and supporting documentation. 

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax 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 00356 21378672 or send us an email on [email protected].