Personal Tax is charged to individuals on income earned or profits made on capital gains disposed and is made further complicated by deemed place of residence rules and complex domicile rules. Wherever you are deemed to be tax resident you may have several compliance formalities to follow such as filing personal tax returns and payment of tax.
It is essential for high-net-worth individuals, owners of businesses and entrepreneurs to understand their personal tax situation their filing obligations and have their tax affairs in good order.
Certain countries such as Malta offer attractive tax residence programmes with a flat rate of taxation for high-net-worth individuals who move to Malta and become tax resident. The Malta Retirement programme is one such programme that offers retired persons a flat rate of 15% of taxation on any income remitted to Malta from a pension income. The Malta Residence programme and Global Residence programme are two further options.
We can assist with the obtaining of tax numbers, social security numbers and compliance obligations related to personal tax. We are also able to act as mandatory for several of the Malta tax residence programmes. Contact us for a consultation and we will discuss the opportunities that are available to you.