Malta: Tax measures in budget 2024, including deferral of implementation of Pillar Two global minimum tax
Highlights of the tax proposals in the Malta budget
Deferral of implementation of Pillar Two global minimum tax
Malta’s budget for 2024 includes tax provisions that would affect business and individual taxpayers.
Regarding the proposals for business taxpayers, the budget 2024 includes:
- Deferral of implementation of the Pillar Two global minimum tax
- A maximum tax credit of €500 on donations made by enterprises to non-governmental organizations (NGOs) registered with the Commissioner for Voluntary Organizations operating in the social, environmental and animal welfare sector
- Extension of the seed investment scheme providing for tax credits to qualifying investors investing in start-up businesses
- Family business registered with the Family Business Office benefit from a higher tax credit cap on their investment
Other tax-related proposals concern property taxes (including value added tax (VAT) refunds on expenses incurred for the restoration and improvement of qualifying properties); health, pensions, and the elderly; and family and education.
Read an October 2023 report [PDF 10.9 MB] prepared by the KPMG member firm in Malta
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