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REMITTED BASIS FOR POSSIBLE TAX ?

Last activity 08 August 2017 by europe123

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MaltaMyst

Moving from the SV EU to Malta, for approx. 4/5 years, to start up my Freelance/Writing, Modeling, Digital Products On Line, Visual Arts/.

Do I have to pay taxes if I transfer my money/ not income not savings, it is family capital, it is more than 10.000 and less than 50.000 EUR per one transfer / from the My Bank Account here/SV EU/ to a Maltese bank account/which I don t have yet/ ?

As well, does this count as money "remitted" to Malta and is therefore taxable ???

And than, when I am in Malta for over 183 consecutive days already, so in another words, next full year of 2018 and I do not work yet, only prepare for my start up/ not working yet/, will I have to pay taxes on it than, next year despite the fact that I am not yet working, but being in Malta for over 183 days, only becasue of that coutns ?

Thank you in advacnce

kiwi dan

Take professional advice - check the forum advertisers for an accountant, last  time I checked there was at least one with an excellent reputation for advising on matters such as yours.

volcane

Yeah get pro advise, generally capital - your savings - wont be taxed but there are many rules so speak to someone

F0xgl0ve

And don't be tempted to bring the money in as cash!
A guy from Sicily has just been prosecuted for bringing in nearly €23,000 without declaring it and apparently there is a €10,000 limit. He was an 'entrepreneur' who was bringing it in for his start up business!
He was fined €5000 and had the excess of nearly €13,000 confiscated!

Ray

volcane

This limit is clearly indicated in ALL european airports.  And he was lying twice about how much he had before it all came to light, he deserves it for sure

Asked whether he was carrying any cash, the man replied that he had €9,000 in hand but later handed over €6,500. Their suspicion aroused by the fact that the figures did not tally, the officers demanded an explanation.

At that point, the man took out a second wad of cash notes amounting to €8,500. Rather than quell the officers’ suspicions, this second bundle only served to spike their misgivings even further.

Upon being informed that he would have to undergo a personal search, the traveller issued the third and final wad, bringing the total amount of cash to €22,990


what an idiot

Yves81

If it is capital that you had before moving to malta its tax free and you can just wire it. But you have to be able to prove it.

europe123

Hi, Yves81 answer is correct. Futhermore ask for professional advice. You can wire as much as you have before becoming an ordinary resident; but keep in mind, if you earn interrest form the money  you brought in , that interrest is taxable in Malta.
And think about the Double taxation relief.

https://www2.deloitte.com/content/dam/D … lta_en.pdfhttp://www.cc-advocates.com/immigration … idents.htm

europe123

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