Qualifying Employment in Maritime Activities and Servicing of Offshore Oil and Gas Industry Activities Rules – Legal Notice 140 of 2018
These new Rules serve as an incentive for certain qualifying employees holding an eligible office as defined latter. These new Rules serve as an incentive for certain qualifying employees holding an eligible office as defined latter.
The main tax incentives applicable to such employees engaged within the terms of a qualifying contract would be as follows:
- Income tax rate of 15% on a minimum salary of at least EUR 65,000 per annum
- Income subject to tax in terms of the qualifying contract in excess of EUR 5,000,000 would be exempt from tax in Malta.
- The aforementioned 15% tax shall apply without the possibility of to claim any relief, deduction, credit or set off of any kind.
An EU/EEA national enjoying the aforementioned tax rate shall be entitled to do so for a period of five years, which may be extended for a further five years. For third country nationals, the period of applicability would be of four years with the possibility of a one-time extension of a further four years.