Malta | Tax on Rentals Basis 2020 – TA24 – deadline 30th April 2021
Tax of 15% tax on rental income
The deadline for the submission of the TA24 Form for rental income received during the year 2020 is the 30th April 2021 (until further notice). Late submission may be refused and the income will have to be declared in the taxpayer’s tax return and charged at normal rates. This tax is not eligible for postponement of the COVID-19 incentives. For online submissions follow this Link.
Tax Rebates on registered residential leases apply.
Extract from CfR’s Notice issued on the 23rd April 2020
- Payments can only be made at Malta Post until 30/04/2020.
- Payments including interests can continue to be made online after 30/04/2020 on the CfR website (TA22, TA24). Interests are calculated by the system when filling in details.
- Payments by cheque (payable to CfR) after 30/04/2020 sent to the office of the CfR will only be accepted if they include the interest incurred. Any cheques received after that date not including interests will be returned to taxpayers to adjust amounts of cheque to include interest.
Extract from CfR’s Notice issued on the 11th February 2021 on Tax rebate on private residential leases:
- Taxpayers who shall declare their income on the TA24 Form online and derive rental income from a private residential lease registered with the Housing Authority as a long lease, are eligible for a tax rebate.
- Rebate is applicable on registered leases for the basis year 2020 on a pro-rata basis in the event that a lease during 2020 does not cover the full year.
- The rebate for the year cannot exceed 15% of the rent derived for that same year.
Tax Rebate
2020 registered residential leases |
1 bedroom | 2 bedrooms | 3 bedrooms |
| Between 2 years and less than 3 years residential lease duration | €200 | €300 | €400 |
| 3 years or more residential lease duration | €300 | €400 | €500 |
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Eligibility
The TA24 Form for rental income received up to 31st December 2020 is to be used by persons or entities who are opting to pay the flat rate tax of 15% on rental income. No deductions of expenses and maintenance costs are permitted, except for the tax rebate on residential leases.
Conditions
- Where a person derives rental income from the letting of more than one property, the 15% option has to be applied to the total rental income received. The income declared may not be split between the TA24 and the tax return.
- The tax is final and no set-off or refund can be claimed as a result of this tax.
- Taxpayers (not companies) should not declare this income in their income tax return.
- Payment are to be made by not later than the 30th April of the year following the relevant year.
For more information on how we can assist you with your TA24 Form for rental income received up to 31st December 2020 and on your taxation matters, link to our dedicated services pages:
– for businesses
– for individuals
