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Money matters

How m uch of my salary will go in taxes etc ?

No, really... it does!
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Income Tax

Postby sicaderas » Sat 27 Mar 2010 12:21 GMT

Hi Guys,

Just to get a general idea, what would be approximately the monthly net salary in Malta (after paying income tax,social insurance, health insurance etc) for a yearly income of 25000 euro, i've tried the online tax calculator but it asks for details i dont know.

Just an average approximate would be fine.

Thanks a lot!

Nikos
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Postby gozomark » Sat 27 Mar 2010 13:19 GMT

Hi sicaderas, and welcome to the forum :D

The tax tables are on the following link - I'm fairly sure 2010 bands are the same as 2009 - are you single or married ?
http://www.britishexpat.com/expatforum/ ... hp?t=20622

social security rates are on the following link
http://www.ird.gov.mt/v1/services/ssc/sscrates.aspx
If you are employed it is 10%, capped at € 32.91 per week

health insurance - do you mean public (which is included in social security rate) or private ?
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Postby gozomark » Sat 27 Mar 2010 13:24 GMT

The tax calculator is simple once you realise you ignore practically everything

using the link,

marital status - put single or married
employment local - tick

start

employment - self amount 25,000

process

if single tax is 4,075
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Postby sicaderas » Sat 27 Mar 2010 14:00 GMT

Thanks gozomark for the fast reply!

im single, and i'm not planning to use a private health insurance.

After your enlightenment my calculations look like this:

25000€-4075€(IncTax)=20925€/12months= 1744€

as i understand i fall under the category D of the Social Security Contribution Rates, so it will be 32.91€ per week, an average of 143€ per month.

1744€-143€(SSC)= 1601€


Would i be right to say that my average monthly net income would be around 1600€ ?

Thanks again for helping,

Nikos
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Postby gozomark » Sat 27 Mar 2010 14:07 GMT

Looks right to me 8)
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Postby sicaderas » Sat 27 Mar 2010 18:46 GMT

Thanks gozomark !
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Postby gozomark » Fri 2 Apr 2010 12:16 GMT

added

17. Can I use my driving licence in Malta ?

http://www.britishexpat.com/expatforum/ ... hp?t=21441
covers
Can I drive in Malta on a non-Maltese driving licence ?
How do I exchange a non-Maltese EU driving licence for a Maltese EU driving licence
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