First of all – Everyone at the office of Dr Werner & Partner wishes you a wonderful and happy new year 2015! Malta’s economy has been doing really well in recent years: the GDP has been rising, the unemployment rate got lower and the banks are financially stable. In this article I would like to point out some of the highlights for this year.
Online Gaming revenues expected to rise
The online gaming industry has been booming for quite a few years now. Players in the whole world enjoy playing from the comfort of their homes, and the revenues of the industry are expected to grow by 15% in 2015. Malta has quickly become a preferred jurisdiction for gaming operators to base their operations. The reasons are simple: a favourable taxation structure, a great reputation with players and high prospects for future growth in a stable market. Here you can read more about our services relating to operating an online casino in Malta.
Income tax for top earners has been lowered
As outlined in the budget for 2015, the income tax for top earners will be lowered from 29% to 25% for income between €19,500 and €60,000. All income above €60,000 will be taxed with 35%. This low income tax rate will attract even more skilled professionals to move to Malta, which in turn is good for the industries, as more skilled workers make the island even more attractive for companies to move their operations to Malta.
I think that the good economic situation and the growing market will increase the GDP in Malta even further. Malta is also the European state with the third lowest unemployment rate, and this quota might drop even further since the Maltese government is working on more measures to improve the economic situation in the country. We are excited to see what the new year brings and we will keep you up to date with everything important that is going on in Malta.
