2 0 0 3
CHANGES IN TAXATION OF
PERMANENT RESIDENTS
Annual Income Remitted to Malta (unchanged):
Permanent Resident:
A minimum of Lm6,000 annually
Dependents:
Lm1,000 each
Taxation system up to 31/12/2002:
Reduced Tax Rate:
15% on income remitted to Malta
Minimum Tax:
Lm1,000 after double tax relief
Taxation system from 1/1/2003:
Permanent Resident Family inc. dependants:
Assessed to tax on a minimum of Lm12,000 annually (w/o deductions) at the same rate of 15%.
Therefore:
a minimum tax liability irrespective of number of dependents:
Lm 1,800
