Tax Services in Malta

Overview of Tax in Malta

Malta's tax system is governed by the Income Tax Act (Cap. 123) and administered by the Commissioner for Revenue. The system covers both direct taxes, such as income tax on individuals and companies, and indirect taxes, such as VAT and duty on documents. For businesses and individuals operating in Malta, understanding and complying with tax obligations is not just a legal requirement; it is fundamental to sound financial management.

The Maltese tax framework offers certain advantages, particularly for companies, thanks to Malta's full imputation system and the availability of tax refunds for shareholders. However, navigating these benefits requires professional expertise. The rules around tax credits, deductions, exemptions, and filing deadlines are detailed and change periodically through budget measures and legislative amendments. Errors in tax filings can lead to assessments, penalties, interest charges, and in serious cases, prosecution.

At Said Accounting, we provide a full spectrum of tax services covering both corporate and personal taxation. Steve Said, our ACCA-qualified Certified Public Accountant, works directly with each client to ensure their tax affairs are managed efficiently, compliantly, and in a manner that takes full advantage of the legitimate tax planning opportunities available under Maltese law.

Our Tax Services

We offer a comprehensive range of tax services tailored to the needs of businesses and individuals in Malta. Here is what we provide:

Corporate Tax Services

• Company tax return preparation: We prepare and file annual corporate tax returns for limited liability companies, partnerships, and other entities. Each return is prepared from audited or compiled financial statements and includes a full tax computation showing assessable income, deductible expenses, capital allowances, and the tax liability.
• Tax registration: We register new companies and businesses with the Commissioner for Revenue, obtaining tax identification numbers and ensuring all registrations are completed before the first filing deadline.
• Provisional tax management: Maltese companies are required to make three provisional tax payments during their financial year. We calculate the correct amounts, track the deadlines, and ensure payments are made on time to avoid interest charges.
• Tax refund applications: Malta's imputation system allows shareholders to claim refunds of tax paid by the company on distributed profits. We prepare and submit refund applications on behalf of shareholders, ensuring maximum refund amounts are recovered within the shortest possible timeframe.
• Transfer pricing compliance: For companies with related party transactions, we advise on transfer pricing documentation requirements and ensure transactions are conducted at arm's length in accordance with Maltese and international standards.

Personal Tax Services

• Personal income tax returns: We prepare and file annual income tax returns for individuals, covering employment income, self-employment income, rental income, investment income, capital gains, and all other sources of assessable income.
• Self-employed tax compliance: For sole traders and self-employed professionals, we handle all tax obligations including the calculation of provisional tax payments, preparation of accounts, and filing of annual returns.
• Tax status elections: We advise married couples on whether to elect for joint or separate computation, helping them choose the option that results in the lowest overall tax liability within the law.
• Property-related taxation: We advise on the tax implications of buying, selling, or renting property in Malta, including capital gains tax, stamp duty, and the 15% withholding tax on rental income.
• Expatriate tax services: For individuals relocating to Malta, we advise on tax residency status, the remittance basis of taxation, and any applicable tax programmes for high net worth individuals or highly qualified persons.

Tax Planning and Advisory

Beyond compliance, effective tax management requires proactive planning. At Said Accounting, we do not just file your returns and wait until next year. We work with you throughout the year to identify opportunities to manage your tax position legitimately and effectively. Our tax planning services include:

• Business structure optimisation: We advise on the most tax-efficient structure for your business, whether that means operating as a sole trader, partnership, or limited company. We also advise on holding company structures that can maximise the benefits of Malta's imputation system.
• Capital allowance planning: We ensure you claim all available capital allowances on qualifying expenditure, including wear and tear allowances on plant and machinery, fixtures, and equipment. Timing the purchase of capital assets can significantly impact your tax position in a given year.
• Dividend and profit extraction: For company directors and shareholders, we advise on the most tax-efficient methods of extracting profits from the business, balancing salary, dividends, and other forms of remuneration.
• Year-end tax planning: Before your financial year ends, we review your projected results and recommend actions that can legitimately reduce your tax liability, such as accelerating deductible expenditure or deferring assessable income where appropriate.

Who Our Tax Services Are For

Our tax services cater to a diverse range of clients across Malta. We work with:

• Small and medium-sized enterprises (SMEs) that need reliable, cost-effective tax compliance and planning.
• Start-ups that are navigating their first tax registrations and filings.
• Self-employed professionals including doctors, lawyers, architects, consultants, and tradespeople.
• Property owners and investors with rental income or capital gains obligations.
• Expatriates and foreign nationals who have relocated to Malta and need to understand their tax obligations.
• Company directors and shareholders who want to optimise their personal and corporate tax positions.

Trusted by SMEs and individuals across Malta, we provide the same level of professional service regardless of the size or complexity of your tax affairs. Based in Mosta, serving all of Malta, we combine ACCA-qualified expertise with a personal, client-focused approach.

Why Choose Said Accounting for Tax

Tax is an area where the cost of getting it wrong far outweighs the investment in getting it right. Here is why clients across Malta choose Said Accounting for their tax needs:

• ACCA-qualified expertise: Steve Said holds the globally recognised ACCA qualification and is a Certified Public Accountant with comprehensive knowledge of Maltese and international tax law.
• Integrated services: Our tax services work hand in hand with our bookkeeping, payroll, and VAT services. When the same team handles your complete financial and tax compliance, the result is greater accuracy, fewer errors, and a more efficient process.
• Proactive communication: We notify you of upcoming deadlines, changes in tax legislation, and opportunities to improve your tax position. You will never be caught off guard by a deadline or a legislative change.
• Transparent fees: We provide clear, upfront pricing for all tax services. You know what you will pay before we begin, with no hidden charges.
• Responsive service: When you have a tax question, you get an answer promptly. We understand that tax queries are often time-sensitive and require quick, accurate responses.

How to Get Started

Whether you need help with a specific tax filing or want to engage us for comprehensive, year-round tax management, the first step is a free consultation. Contact Steve Said by WhatsApp, email, or phone to discuss your situation. We will assess your needs, explain our services, and provide a clear proposal with no obligation. From there, we handle everything: registrations, computations, filings, payments, and ongoing advisory. You focus on your business or career, and we take care of the tax.