Voluntary Occupational Pension Schemes

By means of LN 228 of 2017, entitled ‘Voluntary Occupational Pension Scheme Rules’, the Malta Government has launched a number of tax incentives for contributions paid to qualifying schemes established in the context of an employment relationship for the purpose of providing retirement benefits to qualifying employees. The incentives available under the legal notice are […]

Written By ACT Team

On October 2, 2017
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By means of LN 228 of 2017, entitled ‘Voluntary Occupational Pension Scheme Rules’, the Malta Government has launched a number of tax incentives for contributions paid to qualifying schemes established in the context of an employment relationship for the purpose of providing retirement benefits to qualifying employees.

The incentives available under the legal notice are the following:

  1. A deduction against the employer’s taxable income amounting to the actual contributions paid by the employer during the year or €2,000, whichever is the lowest amount, per employee, per annum;
  2. A tax credit against the employee’s tax charge amounting to the actual contributions paid by the employee during the year or €150, whichever is the lowest amount, per annum; and
  3. A tax credit against the employer’s tax charge amounting to the actual contributions paid by the employer during the year or €150, whichever is the lowest amount, per annum, per employee.

For further information, you may contact the firm’s tax partners Stephen Balzan on [email protected] or Elaine Camilleri on [email protected].  You may also read our article which you can find in the following link: http://act.com.mt/articles-publications/occupational-pension-scheme-rules.php.

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].

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].