The expansion of the financial and gaming industries as well as aviation services and assisted reproductive technology in Malta in recent years has shown a significant need for additional highly qualified workers. The introduction of the Highly Qualified Persons Rules has attracted qualified individuals to occupy eligible office with companies licensed and/or recognized by the Competent Authority regulating specific sectors.
Amendments have recently been introduced to the Highly Qualified Persons Rules, Qualifying Employment in Aviation (Personal Tax) and Qualifying Employment in Maritime Activities and the Servicing of Offshore Oil and Gas Industry Activities (Personal Tax); these amendments will have effect with respect to the year of assessment 2020 and subsequent years.
The amending Legal Notice has introduced the following amendments:
As a result, the exclusion that previously applied to income paid by an employer who has received benefits under business incentives has been removed.
Article written by Dr Maria Attard.
This article is not intended to impart legal advice and readers are asked to seek verification of statements made before acting on them.