ARTICLE
7 November 2014

Tax Charged On Revenue From Rented Residential Properties

CG
CSB Group

Contributor

Established in 1987, CSB Group offers diverse yet specialised business solutions and commercial services to a vast portfolio of corporate and private clients seeking to setup a business or relocate to Malta. With an 100+ team of qualified professionals we strive to be a partner of choice to our clients, providing them with tailor-made solutions, uniquely aimed at helping them succeed.
Maltese Finance Minister, Edward Scicluna announced that the measure announced in the last Budget of reducing the tax charged on revenue from rented residential properties from a maximum of 35% to 15%, was being implemented.
Malta Tax

Maltese Finance Minister, Edward Scicluna announced that the measure announced in the last Budget (that of November 2013) of reducing the tax charged on revenue from rented residential properties from a maximum of 35% to 15%, was being implemented and backdated to January 1 of 2014.

This measure is aimed at reducing tax evasion by encouraging landlords to declare the income they made form rented properties. This would also encourage more people to rent vacant dwellings, the tax would be collected as a withholding tax.

If the only source of income is the rental income, one may opt to not pay the fixed 15% tax but the 'ordinary' staggered rate of income tax in Malta.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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