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Malta | Part-time self employed – TA22 eligibility and procedure

Malta | Part-time self employed – TA22 eligibility and procedure

A taxpayer working as self-employed on a part-time basis may qualify for the 15% flat tax rate on the declared net profit up to a maximum of €12,000 (maximum tax charged at 15% = €1,800).  If eligible the taxpayer is to submit a TA22 Form and make the necessary payment annually by the 30th June of the following year.  Only the remainder of the net profit in excess of €12,000 is to be declared by the taxpayer in the personal income tax return.

2014 - 2016 part-time self employed reduced tax rates

Maximum Net Profit = €12,000 – Maximum Tax at 15% = €1,800

2008 - 2013 part-time self employed reduced tax rates

Maximum Net Profit = €7,000 – Maximum Tax at 15% = €1,050

Eligibility conditions:

Procedure:

  • A profit and loss account is to be prepared as extracted from the books of account for each year;
  • TA22 Form is to be prepared and submitted by the 30th June of the following year to the IRD (vide paper or online forms);
  • The maximum eligible net profit to be charged at the 15% tax flat rate is €12,000 and the maximum tax on this portion of the net profit is €1,800;
  • Payment payable to the DGIR is to be made with the TA22 Form (by cheque or online);
  • Net profits below €12,000 and charged to tax at the 15% flat rate utilising the TA22 Form should not be declared in the taxpayer’s personal income tax return;
  • Net profits in excess of €12,000 (taxed on the TA22 Form) are to be declared separately on the taxpayer’s income tax return.

For more information on how we can assist you with your TA22 Form and on your taxation matters, link to our dedicated services pages:
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for individuals

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