value added tax in malta
TRANSCRIPT
Value Added Tax in Malta
A presentation brought to you by CompanyIncorporationMalta.com
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Taxation in Malta
The Maltese tax system is very attractive due to the corporate tax, as well as to the double taxation treaties that Malta has signed with more than 60 countries.
Also, Malta has a full imputation tax system which provides for various tax refunds.
Taxation in Malta applies based on residency.
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Types of Taxes in Malta
The Maltese taxation system is made up of direct and indirect taxes.
In Malta, the taxes that apply to individuals depend principally on the residence.
The income tax on worldwide revenue is applied to companies incorporated in Malta and foreign companies with subsidiaries in Malta.
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What is the Value Added Tax (VAT) in Malta?
The most important indirect tax levied in Malta is the value added tax (VAT).
In Malta, the value added tax is applied to goods and services made inland.
All forms of transactions are subject to the value added tax.
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Value Added Tax Rates in Malta
The standard rate of VAT in Malta is 18%.
But there is also a reduced VAT rate of 7% that applies to tourism accommodation.
Another reduced rate of 5% is for electricity, medical services and equipment, printed materials, certain foods and works of art.
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The Zero VAT Rate in Malta
Malta has a zero tax rate for credited supplies that include among others:
export of goods outside the European Community,
brokerage services, the processing of goods re-exported
outside the Community, international transport of passengers, pharmaceutical products, transports for employees, intra-community supplies.
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Goods Exempt from VAT in Malta
The supplies exempt from VAT are:
immovable properties, insurance services, financial services, cultural and religious services, lottery, gambling, postal services, healthcare services, education, water provided by a public authority.
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Registration for the Value Added Tax in Malta
Maltese companies that supply goods and services in Malta or another EU country and have an annual turnover that ranges between 12,000 and 28,000 EUR are required to register for VAT in Malta.
Non-Maltese companies delivering goods and supplies in Malta must also register for VAT.
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Assistance in Taxation Matters in Malta
We provide various accounting services for foreign investors interested in starting a business in Malta or expending their activity in this country.
You can also contact our Maltese agents for assistance with the company registration procedure.
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Thank you for your attention!
For more information, please contact us at:(+44) 203-287 0408 (for international clients)
www.companyincorporationmalta.com
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