ARTICLE · 18 OCTOBER 2021

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Malta Budget Measures 2022

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The Malta Budget for 2022 focuses on a number of measures targeted at supporting economic growth in a post-pandemic environment, as well as environmental and sustainability measures.

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Franklin Cachia

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The Malta Budget for 2022 focuses on a number of measures targeted at supporting economic growth in a post-pandemic environment, as well as environmental and sustainability measures. CSB Group's team of professionals have reviewed the budget and highlighted the main points mentioned.

Reduction of Tax on Employment Income

The special rate reduced 15% tax rate applicable to qualifying part-time income will be reduced to 10%.

Part-time workers with more than one job may choose to increase National Insurance rate up to a maximum of 40 hours per week to have a better pension.

Individuals working in a non-managerial position and earning an annual base wage of not more than €20,000 will be taxed at the rate of 15% on their first €10,000 of overtime income.

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