Malta MOF Presents 2026 Budget Speech

The Maltese Ministry of Finance Oct. 27 presented the 2026 budget speech. The budget includes measures to: 1) reduce tax over three years for families with qualifying children, establish new tax tables, and increase their exemption thresholds progressively in 2026, 2027, and 2028; 2) provide a 10 euro (US$11) weekly increase in pensions for qualified retirement, invalidity, widow, and old-age pensioners, and make other social benefit increases; 3) double the maximum pension equivalent exempt from taxable income, from 2026; 4) allow employees to pay up to five years of back social security contributions, if still working and between the ages ...