Tax perks? I wasn't really able to find info on it being tax-favorable to live here. Isn't there a minimum $15,000 euros a year tax bill per person no matter what you earn? So with a £12,000 pension, we'd be paying 100% tax rate. Is that correct?
HI @DebyColes, thanks for the comment! Malta offers tax perks, notably through the Malta Retirement Programme (MRP) for foreigners relocating there. Under the MRP, individuals pay a 15% flat tax on foreign-source income, with a minimum tax liability of €7,500/year plus €500 per dependent. The minimum tax requirement varies depending on the program and individual circumstances. For instance, under the MRP, tax liability is based on pension income; for a €12,000 pension, the tax would be €1,800, not €15,000.
Sorry but seems stupid, if i am a person who have 700k euros i wont need malta passport, rich men dont have visa proplem. I would take a usa visa, come to america buy 7 trucks and rent them earn 700 k dollars every year, i dont need to stay whole year,
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Tax perks? I wasn't really able to find info on it being tax-favorable to live here. Isn't there a minimum $15,000 euros a year tax bill per person no matter what you earn? So with a £12,000 pension, we'd be paying 100% tax rate. Is that correct?
HI @DebyColes, thanks for the comment!
Malta offers tax perks, notably through the Malta Retirement Programme (MRP) for foreigners relocating there. Under the MRP, individuals pay a 15% flat tax on foreign-source income, with a minimum tax liability of €7,500/year plus €500 per dependent. The minimum tax requirement varies depending on the program and individual circumstances. For instance, under the MRP, tax liability is based on pension income; for a €12,000 pension, the tax would be €1,800, not €15,000.
Is a contribution or a donation ? After all , it’s non refundable .
Sorry but seems stupid, if i am a person who have 700k euros i wont need malta passport, rich men dont have visa proplem. I would take a usa visa, come to america buy 7 trucks and rent them earn 700 k dollars every year, i dont need to stay whole year,