Forgot Password ?
News

REFINE 

YOUR SEARCH

DEAL   TYPE

PRICE   RANGE

LOCALITY

DATE   AVAILABLE



PROPERTY   CATEGORY

PROPERTY   TYPE

ADDITIONAL   FEATURES

MORE   FEATURES

REFERENCE   NUMBER  

(If Any)

CLEAR SEARCH
SEARCH

REFINE 

YOUR SEARCH

DEAL   TYPE

PRICE   RANGE

LOCALITY

You can choose more than one option

DATE   AVAILABLE



PROPERTY   CATEGORY

PROPERTY   TYPE

Clarifications published on 15% tax rate on rental income

The Inland Revenue Department has published clarifications on the scheme which introduced a new witholding tax on income from rents in last November's Budget.

Through this scheme, property owners who rent out their property can pay a flat 15% tax on income from rented property for residential purposes earned from 1 January 2014 onwards.

The clarifications issued by the authorities clarify three very important issues on when a property owner can apply the new flat rate:

  • For both short-term and long-term lets ;
  • Even if the lease is done directly or indirectly through a third party ;
  • Even when the tenement requires a Malta Tourism Authority license

A condition which has remained unchanged is that the 15% tax rate cannot be used if the rented property is of a commercial nature or being used commercially.


source: www.mazars.com.mt