Malta Tax Agency Issues Guidance on Taxation of Rental Income

The Maltese Commissioner for Revenue March 30 issued guidance on the taxation of rental income. Topics covered include: 1) the option for taxpayers to either pay a 15 percent final withholding tax (FWT) on rental income, or declare rental income in their annual tax returns; 2) the exemption from capital gains taxes on properties sold to tenants, when previously subject to affordable rents by the Housing Authority; 3) the April 30 declaration deadline for taxpayers opting for the FWT; 4) the June 30 declaration deadline for taxpayers opting to declare rental income in their annual tax returns; 5) reduced tax ...