Article

Fiscal incentives

#MaltaBudget18

Deloitte Malta presents a summary and analysis of the Malta Budget 2018 speech presented to the House of Representatives by the Hon. Prof. Edward Scicluna, Minister of Finance on 09 October 2017.

Post-graduate courses

As from academic year 2017/2018 persons under the age of 40  taking up quality full-time post-graduate courses at Masters or Ph.D. level will be entitled to a tax exemption on their income (up to €60,000) through the granting of tax credits, which may be utilised over one year or two years respectively. This tax credit will be granted on a pro-rata basis to those taking up the qualifying course on a part-time basis.

This scheme is limited to individuals who have not previously availed themselves of other study-related schemes.

Income tax benefit applicable to employees

Part-time and full-time employees earning less than €60,000 per annum will receive a one-time refund, ranging between €40 and €68, depending on the level of income, as indicated below.

Single Married Parent
Income Benefit Income Benefit Income Benefit
EUR EUR EUR EUR EUR EUR
0 – 15,000 60 0 – 20,000 68 0 – 15,000 64
15,001 – 30,000 50 20,001 – 40,000 56 15,001 – 30,000 52
30,001 – 59,999 40 40,001 – 59,999 44 30,001 – 59,999 40

Income tax for pensioners

The amount of annual pension income not subject to tax will be increased to the amounts indicated below.

Basis Year 2018
Annual Single Rate € 13,200
Parent Rate € 13,200
Married Rate € 13,200 (+€1,000 income derived from other sources)
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