Personal Tax Compliance

Whether for your own needs or those of your business, PwC Malta can support you with your compliance requirements.

Introduction

The business world and its intricacies are assuming more prominence than ever and personal tax reporting is taking on an increasingly important role for individuals who own a level of wealth. With the speed of change in the tax laws and accounting laws it may be difficult for you to stay on top of your tax filing and compliance obligations.

Over the years, we have established a personal tax compliance team which clients know they can rely on. Our tax specialists are able to help with a great number of services designed specifically to suit your needs.

Who is considered taxable in Malta?

A person who is ordinarily resident and domiciled in Malta is charged to income tax in Malta on a worldwide basis. A person who is resident but not domiciled in Malta is chargeable to income tax in Malta on income (including trading income and chargeable capital gains) arising in Malta (unless otherwise exempt) and on income arising outside Malta if it is received in Malta. This is referred to as the “Remittance Basis” of taxation and the Maltese Tax Authorities have issued guidelines on this. A person who is not resident or ordinarily resident in Malta is charged to income tax on certain Maltese source income and capital gains and withholding tax obligations may apply.

Understanding basic concepts (and how these apply to you) of taxation like residence and ordinary residence, domicile, citizenship, what constitutes income (and trading income) or capital gains and what is foreign source and what is not, is crucial for charging and reporting purposes, and to avoid expensive errors.

How we can help

Helping with understanding your correct position at law (including as a withholding agent), even if very complex and cross-border;
Helping you maximise all the lawful benefits afforded to you at law;
Communication with the Maltese Tax Authorities on your behalf;
Preparation and submission of your personal annual income tax returns, and applying for any available credits and/or refunds;

Applying for tax residence certificates and helping you with bank documents and requirements;
Reminding you of the different fiscal obligations as well as deadlines in good time; and
Informing you on legislative and fiscal updates and make attendant recommendations.