The new Personal Retirement Scheme Rules 2014

Earlier on this year, the Maltese Government launched the Third Pillar Pension Scheme, paving the way for low income earners to start saving for their retirement. A new Article 57 has been introduced to the Income Tax Act which provides for a tax credit with respect to contributions paid to personal retirement schemes or premium […]

Written By ACT Team

On December 6, 2014
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Earlier on this year, the Maltese Government launched the Third Pillar Pension Scheme, paving the way for low income earners to start saving for their retirement.

A new Article 57 has been introduced to the Income Tax Act which provides for a tax credit with respect to contributions paid to personal retirement schemes or premium payments in relation to a policy of insurance.

By means of Legal Notice 468 of 2014, the Government has now issued rules to provide for the criteria to be satisfied by qualifying schemes and individuals who make qualifying contributions to qualifying schemes.

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].