Malta achieved independence from the United Kingdom in 1964
and became a republic in 1973, though it remains a member
of the Commonwealth. Malta is less prosperous than many other
European countries and heavily depends on imports for its
economic stability, having little in the way of natural resources.
Malta joined the European Union on 1st May, 2004 and adopted
the Euro as its currency on 1st January, 2008.
In the late 1980s, and spurred on by the high unemployment
and other financial woes that followed the departure of the
British, the Maltese Government set about creating an offshore
sector and becoming more welcoming to external investment
by passing the International Business Activities Act 1988
under which the Malta International Business Authority was
set up to develop offshore business sectors.
However, following Malta's acceptance into the EU in 2004,
the European Commission obliged the government to dismantle
certain aspects of its offshore regime, in order to avoid
creating distortions in the European single market.
Malta has Double Tax Treaties with 46 countries (as at 2009),
with a number of others at various stages
With the steps being taken by the Maltese government towards the adoption of the long-awaited Small Business (Malta) Act, and the recent delivery of the Budget, which contained - thankfully, and increasingly unusually nowadays - no nasty surprises for businesses, the timing of the publication of Tax-News.com's Malta Review could hardly have been more opportune. RSS
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Finance Malta, the public-private partnership set up to promote Malta's financial
services sector, has launched a set of technical and promotional guides in support of local practitioners to aid prospective investors considering operations in Malta. RSS
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Malta's efforts to establish itself as a dynamic, cost-efficient, financial services domicile is paying dividends, according to promotional agency MaltaFinance, which has highlighted that each of the island's financial services sectors, insurance, banking, trusts and funds, recorded solid performance during 2011. RSS
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Malta and Saudi Arabia are to sign a double tax agreement during the official
visit of Malta's Deputy Prime Minister and Minister for Foreign Affairs, Tonio
Borg, the Maltese government said on January 2. RSS
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I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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