New Tax Benefits for Expats in Malta

New Regulations governing Employment and Inheritance tax in Malta offer fresh benefits to the country’s already generous Expat tax allowances.

London, UK (Pryce Warner International) April 28th, 2011 - With no inheritance tax, property tax and fantastic weather, Malta has recently become a hotspot for Expat retirement and relocation.

The already generous incentives to work and/or retire there have recently been increased with several new law changes.

Previously income tax was 35% but this has now dropped to 15% (provided you are earning over €75 000 per year and meet several other criteria). In addition to this, any money earned from work based outside Malta is tax-free provided it is not remitted into Malta. But there is more good news for Expats; overseas capital gains are completely tax-free.

Anyone planning on retiring overseas would do well to consider Malta; capital and overseas capital gains can be remitted tax-free so if you are able to live off existing capital you would effectively pay no tax. Retiring abroad would also enable you to benefit from pension schemes like a QNUPS or QROPS, which can offer highly favorable tax rates and little or no inheritance tax.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International Group, a Respected Financial Services Group who are specialists in the Provision of Pension Plan & Asset Management for Expatriates Worldwide commented: “These new regulations are great news for Expats considering retiring or moving abroad but are concerned about the value of the pound. Malta offers excellent tax rates meaning despite currency fluctuations and global instability, retirement in Malta is likely to be plain sailing. Pryce Warner International have over 35 years of experience helping Expats relocate abroad and get the most out of their income and pensions, and can happily advise anyone considering a move to Malta.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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