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Working in Malta – How much income tax do I have to pay?

When thinking about relocating to another country and taking up a job there, one question that people will usually ask is how much the income tax and other deductions from the salary are, and how much the cost of living is. Malta offers an interesting taxation on income tax, and especially high earners can benefit from this.

The main industries in Malta are the finance and iGaming industry. These two sectors contribute most to the GDP, and many skilled workers from all across the world are coming to Malta for work. More and more companies are establishing their business in Malta, creating a dynamic industry with a high demand for qualified workers.

When working in Malta you will have to pay income tax and national insurance contributions. The income tax depends on how much you earn. The income tax rates for 2015 are as follows:

Single Rates

 Subtract €

0€ 8,5000%0
8,501€ 14,50015%1,275
14,501€ 60,00025%2,725
60,001and over35%8,725

 

Especially high earners can benefit from this taxation, as income between €14,500 and €60,000 is taxed with only 25%. Calculator for income tax.

The national insurance contributions are either 10% or a weekly rate of €41,83. This includes health insurance and state pension contributions. It is also possible to take out additional private health insurance, that gives priority and special treatments in hospitals.

The cost of living is reasonable, considering many goods have to be imported. Rent depends on where you live, and popular localities, such as Sliema or St. Julians, are considerably more expensive than other places. It is possible to find good accommodation from between €300 and €700. Flat sharing is also popular among foreign workers, giving you more flexibility and less contractual obligations.

A relocation to Malta for business or personal reasons can be an interesting and rewarding opportunity, not because of the attractive work opportunities, but also because the Maltese islands have a lot more to offer than just work. A rich history and influences from many cultures have created a unique people and plenty of interesting sights. Not to mention the lovely weather in summer and the pristine waters…

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