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List of tax deductions in Malta?

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List of tax deductions in Malta?

Postby MT » Wed 24 Mar 2010 12:50 GMT

Hi all,

Apologies if this has been asked before. I didn't see it on this board.

Is there a list of things that are tax deductions in Malta? (Children, schooling, etc.)?

Cheers all!
Matt
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Postby gozomark » Wed 24 Mar 2010 12:59 GMT

There is a deduction for private school fees - I'm not aware of any other deductions
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Postby gozomark » Wed 24 Mar 2010 13:20 GMT

school fees deduction
http://www.britishexpat.com/expatforum/ ... hp?t=21628

Malta's tax code
http://docs.justice.gov.mt/lom/legislat ... apt123.pdf
p56-74


26. For the purpose of ascertaining the total income of any
person no deduction shall be allowed in respect of -
(a) domestic or private expenses other than alimony
payments as provided for in article 14A and school fees
as provided for in article 14B;

(b) any outgoings and expenses to the extent to which they
are not wholly and exclusively incurred in the
production of the income and, in the case of gains or
profits chargeable under article 4(1)(b), not being
furthermore necessarily incurred in the performance of
the duties of the relative employment or office;
(c) any loss, diminution, exhaustion or withdrawal of
capital, any sum employed or intended to be employed
as capital or any expenditure for a capital purpose or
of a capital nature save as provided in article 14 and
23;
(d) the cost of any improvements;
(e) any loss or expense which is recoverable under any
insurance or contract of indemnity;
(f) rent of any premises or part of premises not paid for
the purpose of producing the income;
(g) any payments of a voluntary nature.
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Postby MT » Wed 24 Mar 2010 13:28 GMT

thanks mark!

so if i am reading the leaglese correctly, they're saying the only deductions are:
- alimony (even though divorce is illegal in malta, right?)
- private school tuition

other than that, the rest is saying "no, we are not going to give you a deudction for any of this list of things, so don't even ask."

(apparently i am not the first to ask them this question!)

if the tax code is this simple, how hard can it to be to be an accountant in malta? coming from other western european countries, this is remarkable.
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Postby MT » Wed 24 Mar 2010 13:36 GMT

thanks mark!

so if i am reading the leaglese correctly, the only tax deductions in malta are:
- alimony (even though i thought divorce is illegal)
- private school tuition

the rest is saying "no, we are not going to give you a deduction for any of this list of things - so don't even ask."
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Postby gozomark » Wed 24 Mar 2010 13:39 GMT

You can't get divorced in Malta, but overseas divorces are recognised by the state. Actually alimony applies to legally separated couples, not just those divorced.

Yep, AFAIK thats it for deductions for individuals - a nice and simple tax code - if only other countries were as simple :D
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