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



The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.