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06 / 10 / 12 - Malta Retirement Programme Rules

On 28th September 2012, by means of a legal notice (LN317 of 2012) the Government has introduced the Malta Retirement Programme Rules in terms of the Income Tax Act. Malta Retirement Programme is aimed at EU, EEA or Swiss nationals whose main income is from pensions, retirement schemes and plans and lifetime or temporary annuities.


The rate of 15% shall apply on any income arising outside Malta which is received in Malta by the beneficiary or dependent, with the possibility to claim relief of double taxation. The minimum amount of tax payable in terms of these rules in respect of any year of assessment shall be seven €7,500 in respect of the beneficiary and €500 per year of assessment for every dependent and every special carer. 

Income of a beneficiary or dependent that is not chargeable to tax under these rules at shall be charged to tax as separate income at the rate of 35%.


Other conditions apply.