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- This year’s budget extends a number of fiscal benefits including the exemption applicable to pensions and the exemption from tax and stamp duty in terms of the first time and second time buyers schemes. The exemption applicable to transfers of qualifying vacant property and property in a UCA (up to a value of €750k) will continue to apply.
Another round of tax refunds, ranging between €60 and €140, will be paid to eligible individuals.
An exemption will be introduced for widow’s/widower’s pension in certain cases and the tax credit for qualifying therapy to children with disability will increase to €500.
Malta will apply the derogation with respect to the EU Minimum Tax Directive such that it will not apply the IIR and UTPR for up to 6 years. A QDMTT is not expected to be introduced at this stage.