Tax on remitted money to purchase property

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Rigel New member

Member since 22 May 2013

RigelNew member24 May 2013 10:57:56

If I transfer the proceeds from my house sale outside Malta to my Malta bank account for the purpose of purchasing a property in Malta will I have to pay 35% tax as it could be considered remitted money? I will already have paid capital gains on the sale in my home country. Given the double taxation deal will one be off set against the other?

georgeingozo ViP

Member since 24 March 2010

georgeingozoViP24 May 2013 14:45:56

3703

no tax on transfer into Malta of capital or capital gains, only on income

Rigel New member

Member since 22 May 2013

RigelNew member24 May 2013 14:58:43

That's a relief. Thanks

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