Malta Gazettes Law Implementing 2023 Budget Measures

The Maltese Official Gazette April 4 published Law No. XII/2023, implementing the 2023 budget measures. The law includes measures: 1) reducing the tax rate on royalties derived from books, to 7.5 percent from 15 percent; 2) increasing the yearly bonus amounts to 450 euros (US$492) and 550 euros (US$602) for specified individuals who have reached retirement age but don’t qualify for the contributory pension, effective Jan. 1; 3) extending the registration tax exemption regime for qualifying electric and plug-in vehicles; 4) setting tax rates and calculation methods for vehicle registration tax; 5) setting the tax rate and calculation method for ...