Employed and self-employed

Hi Vale

You should find answers to your VAT related questions here: http://www.vat.gov.mt/faq_mail.aspx

Are you an EU citizen ?

You should register for a VAT (or UID) number since some companies need this reference on your invoice.
This registration is free of charge and you also receive a fiscal receipt book from VAT Department.

At the same time (with the same application form) you can apply for VAT exemption, means you do not need to charge the 20% VAT on your invoice. This is possible if your annual turnover is less than 14,000 Euro.
On the other hand you also cannot purchase things vat-free for your "company"
If your business prospers more than expected, you can cancel your VAT exemption at any time at the VAT Department.

You can gain tax-benefits if you are working as full-time employee and part-time self-employer. In this case you also do not need to pay NI as self-employer.

Thank you very much to everybody, this is a very useful information.

@lambada: very good link!

@georgeingozo: I'm Italian, so EU citizen.

@matm911: the turnover is less than 14.000€, VAT exemption is a very good news and NI exemption as part-time self employer too.

- Where can I go to open a VAT number?

- Do you suggest to find an accountant or is it simple to complete the individual income tax return? In UK I have just to complete an online document called Self Assessment, instead, in Italy, having an accountant is mandatory as the system is a complete mess.

I made it in January and HERE you can read the steps to go through.

Note, that due to the government change a lot of administrative things are changing.
It's also a good idea to hire a tax advisor. You only habve to collect all your invoices, bills etc. and he will then prepare your tax return statement.

Your Fiscal Receipt Books you can order online.

matm911 wrote:

I made it in January and HERE you can read the steps to go through.

Note, that due to the government change a lot of administrative things are changing.
It's also a good idea to hire a tax advisor. You only habve to collect all your invoices, bills etc. and he will then prepare your tax return statement.

Your Fiscal Receipt Books you can order online.

Thanks a lot matm911!

Not sure if this will be usefull for you La_Vale, but there it goes.

I have moved to Malta just over a month ago and I am also working as a self-employed. Few weeks ago I went to register myself for Social Security and I was also intending to go to the tax office in order to sort out my paperwork in regards to the tax contributions.

However, I have just received a letter from the Inland revenue with my tax number. I called them straight away and they told me that for the moment, I don't need to do anything else. They also told me that next year, I will receive an Expatriate Taxpayer Registration form to declare my earnings for this year.

Therefore, I did not need to do anything else as the Social Security Department, sent all the info directly to Inland Revenue.

Hope that helps!

Cheerio,
Antonio

Interesting... I will look for more information about this. Is it possible this happened because you are full time self-employed or you come from a no EU country?

It could be as I work as full-time but I am from a EU country (Portugal).