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 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 +356 21378672 or send us an email on [email protected].