How will Malta’s planned overhaul of its tax regime impact its RCBI program?

Answers

• 

  Kenneth Camilleri

  January 30, 2023

  The overhaul of Malta's corporate tax system is planned to take effect in 2025. The details of proposed changes have not been announced.

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  Silvio Cilia

  Corrieri Cilia

  May 17, 2022

  Maltese taxation is based on two connecting factors: domicile and residence. Holding Maltese citizenship alone does not lead to any tax implications. Only individuals who are both resident and domiciled in Malta are taxed on their worldwide income. Whilst resident status may be acquired by residing for over 6 months in the country, it takes decades to acquire a domicile of choice in Malta. Therefore, it is nearly impossible that a beneficiary of a Malta RCBI program will become taxable on his/her world-wide income in Malta. If the tax rates will be re-examined or minimum tax will be introduced, the connecting factors for taxation are outside the scope of the proposed reforms.

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  Valentina Sammut

  BIZ Consult Limited

  May 05, 2022

  You are a tax resident in the country in which you spend more than 183 days per year.