Income Tax

the first 8500 is tax free the rest in the levels gets taxed as per your message - you will pay approx 12475 euros in tax and then there is the NI contributions to allow for too. based on single man rates..it will be different if you claim married rates..

tax at married rates will be approx 10105 euros

sorry cant really help to much in the NI as this varies but can be quite heavy.

check out this page on the IRD website http://www.ird.gov.mt/services/ssc/class1rates2012.aspx

Income tax sucks!!!

Damsel wrote:

Income tax sucks!!!

Yeh, what good has paying tax ever done for us - apart from the health service, education, rubbish collection, police force etc

dont forget giving the mps a good payrise....

I would rather pay MPs a good salary and restrict them doing other jobs, than pay them poorly, and have them only MP'ing part time - that, I understand, is the reasoning behind the big increase.

wish i had your level of trust in these guys....

I'm more concerned that we immigrants pay income tax but can't vote in a general election, than the amount the MPs are paid

cant argue with you on that one George....and further still they chase you for their census too....yet not allowed a vote...

bob2oo7 wrote:

Hi there

Im a little confused about the income tax in Malta

alary upto 8500 tax free
salary 8501 to 14500 15% (based on chargeable income x rate less 1275)
salary 14501 to 19500 25% (based on chargeable income x rate less 2725)
salary over 19501 35% (based on chargeable income x rate less 4675


If I earn 49000 am I taxed 15% on the first 8501 to 14500 etc?

Or am I just taxed 35% on the 49000 ?

Can any body tell me my total monthly take home pay after all taxes?

Thanks in advance and apologies for being confused

Same here bob I am confused. So I understand I have to work out my tax in tiers after first deducting my tax free allowance? Do I count my car and fuel allowances in my gross income? I shall be using my own car. Do I also count standby allowance as my gross income. I know also I have to deduct the SSC amount. Are there any other tax benefits like getting a mortgage? On a 20000 euros basic plus 2600 euros car allowance and 1000 euros fuel allowance plus another 1000 standby allowance - may be someone can help me work my take home pay.

I hope someone can perhaps help me with these questions.

Many thanks

"On a 20000 euros basic plus 2600 euros car allowance and 1000 euros fuel allowance plus another 1000 standby allowance" - so 24,600 income

tax = 24600*.35-4675 = 3935

car allowance and fuel allowance are 50% tax free, but this is capped at €1170 (of the total i.e of the 3,600). not sure what standby allowance actually is