Malta Raises Threshold For Highly Qualified Persons Scheme
by Jason Gorringe, Lowtax.net, London
30 January, 2017
Malta's Inland Revenue Department has set the minimum income for persons seeking to benefit from the Highly Qualified Persons scheme at EUR82,881 (USD88,638) for 2017.
The Highly Qualified Persons scheme was set up in 2010 to attract highly qualified persons in the financial services, gaming, and aviation sectors.
Persons seeking to benefit under the scheme must earn a minimum income and occupy an "eligible office" with companies licensed and/or recognized by either the Malta Financial Services Authority, the Lotteries and Gaming Authority, or the Authority for Transport in Malta.
Individuals benefiting from the scheme are subject to tax at a flat rate of 15 percent. The 15 percent tax rate applies for a consecutive period of five years for European Economic Area countries (EU countries plus Norway, Iceland, and Liechtenstein) and Swiss nationals and for a consecutive period of four years for third-country nationals.
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