Tax Deduction against Employment Income

By means of Legal Notice 28 of 2022, the Government of Malta has increased the annual amount of employment income that can be earned by an individual to benefit from a tax deduction against his employment income. The amount has been increased to Eur10,020, up from Eur9,930. Where an individual (including any spouse where the […]

Written By Stephen Balzan

On February 13, 2022
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By means of Legal Notice 28 of 2022, the Government of Malta has increased the annual amount of employment income that can be earned by an individual to benefit from a tax deduction against his employment income.

The amount has been increased to Eur10,020, up from Eur9,930.

Where an individual (including any spouse where the responsible spouse has opted for a separate computation for the purposes of article 50 of the Income Tax Act), derives employment income (other than income derived from the holding of an office of a director), such income does not exceed €10,020 per annum and the individual does not derive any other income chargeable to tax, is allowed to claim a tax deduction against his income from employment, of an amount determined by deducting €9,100 from the said income.

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].