Living and working in A snapshot of island life Deloitte Malta, 2018 Living and working in Malta

2Image: © viewingmalta.com Living and working in Malta

Deloitte in Malta: 04 Global strength, local delivery Malta - Quick facts 06 Income and taxation 08 Standard of living 10 The Maltese climate, 12 cultural and social life Rental accommodation 14 The health system 16 Transport 17 Working in Malta 18 Life at Deloitte Malta 22 What do expats working in Deloitte 24 Malta have to say about life here?

3 Living and working in Malta

Deloitte in Malta: Global strength, local delivery

Deloitte Malta forms part of the Mission statement Central Mediterranean cluster The firm’s mission statement is “to of member firms, together be the Standard of Excellence - the with and Greece. We are a first choice of the most sought- multidisciplinary firm which is after clients and talent”, and this strongly recognised as a leading underpins all that we do. provider of professional services, offering Audit & Assurance, Tax, Ready to respond Financial Advisory, Risk Advisory, The firm focuses on clients. We take Consulting and their related great pride in our ability to provide services to an extensive client base quality services – whether they are from large international and owner-managed businesses or a national clients to smaller family- large multinational corporation. We owned businesses. are a multiskilled, multidisciplined firm and we offer clients a wide Deloitte Malta has the largest range of industry-focused business international tax practice, a solutions. dedicated Financial Services Industry practice and an An award winning firm experienced Financial Advisory Deloitte Malta holds the prestigious arm, all serving a range of clients “Malta Tax Firm of the Year” title by that operate through Malta to take International Tax Review (European advantage of our skills, competitive Tax Awards 2018). This is the sixth cost base, regulatory environment, time that Deloitte Malta won this EU membership, and attractive tax award, having also won the award in system. 2010, 2011, 2014, 2015 and 2017.

4 Living and working in Malta

5 Living and working in Malta

Malta - Quick facts

Gozo

Comino

Mriehel: Deloitte Malta offices

Valletta: Malta’s capital city

Sliema: Shopping and restaurants

St. Julians: Nightlife and entertainment

Luqa: Malta International Airport

Historical sites Malta

Beaches

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Where is Malta?

316 km2 422,809 Maltese & Mild winters Landmass Population English and hot, dry (countrymeters. Malta’s official summers info/en/Malta languages 11 June 2018) Malta’s climate

Joined the Joined the European Union 1 January 2008 1 May 2004

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Income and taxation

Value Added Tax employment. The employer The standard rate of Value Added must deduct the social security Tax is 18% and applies to the contribution in addition to the purchase of most goods and income tax deductions. services. Malta residents are able to benefit Income Tax from an extensive double tax treaty The rates tax applicable to an network that protects them from individual resident in Malta are being taxed more than once, in progressive rates with a range of 0% different countries, on the same to 35% (see tables opposite). The income. In a case where there is no higher the income, the higher the double tax treaty in place, Malta has tax rate. A person who is resident a system of unilateral relief whereby in Malta for more than 183 days a any taxes paid abroad may be used year will be taxed in Malta on his/ as a credit towards any income tax her income earned in Malta, as well due in Malta on that same income. as on any income earned overseas that is received in Malta. The law Government bonuses stipulates that, each month, the The Government announces an employer is obliged to deduct the annual cost of living salary increase amount of tax payable on a salary, for all full-time employees. Statutory at source. bonuses are payable to employees four times yearly as follows: Employers and employees must also make weekly social security March €121.16 contributions which are generally June €135.10 equivalent to 10% of the employee’s salary, up to a maximum of €5.58 September €121.16 per week (if born after 1962); December €135.10 however the actual contribution would depend on the type of

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Tax rates for resident individuals

Rate Single Married Parent

% € € €

0 0 - 9,100 0 - 12,700 0 - 10,500

15 9,101 - 14,500 12,701 - 21,200 10,501 - 15,800

25 14,501 - 19,500 21,201 - 28,700 15,801 - 21,200

29 19,501 - 60,000 28,701 - 60,000 21,201 - 60,000

35 60,001+ 60,001+ 60,001+

Tax rates for non-resident individuals

Rate Non-resident

% €

0 0 - 700

20 701 - 3,100

30 3,101 - 7,800

35 7,801+

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Standard of living

Living standards in Malta are good advanced European economies. and compare well with those of Education and health facilities are of continental . Malta is in a very high standard and available fact considred to be amongst the to all. best countries for expatriates to settle. The World Happiness Report Indices for Malta compare very well 2018 shows Malta to be the 22nd with other countries in terms of happiest country in the world, its cost of living, the environment, beating Germany, France, Spain and freedom, health, safety, and climate. Italy (156 countries ranked). Annual living costs in Malta are substantially lower than most of The report considered different the developed European countries. factors, of which six were deemed Safety and security are outstanding. most important: Children can play outside in absolute safety in many villages, and •• GDP per capita; most areas are safe to walk or drive •• Healthy years of life expectancy; around at night. International Living Magazine quotes Malta as being •• Social support ( as measured by one of the best countries to live in having someone to rely on during for its climate, “Malta is a desirable hard times); destination for a multitude of •• Trust (as measured by the reasons, but for many people its absence of government weather likely tops the list. Smack corruption); in the middle of the Mediterranean, this English-speaking island clocks •• Freedom to make life decisions; 3,000 hours of sunshine per year.”. and

•• Generosity (as measured by Malta is a member of the European recent donations) Economic and Monetary Union and uses Euro notes and coins. All major Life expectancy and infant mortality credit cards are widely accepted in rates are comparable to those of main hotels, shops and restaurants.

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Image: © viewingmalta.com

As one of the largest international community for people who live and work abroad, InterNations offers global networking opportunities, local events and expat-relevant information. The organisation surveyed more than 14,000 expats from over 191 countries to find the homes away from home with the best climate: “Malta – As much as 92% of expats were attracted to Malta for better weather. Life is good on the Mediterranean island, with nine out of 10 expats in Malta stating that it is easy to settle down there.” uk.businessinsider.com, August 2017

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The Maltese climate, cultural and social life

Image: © viewingmalta.com

The Maltese climate Scirocco wind from Africa brings Malta’s climate is typical of the unseasonally high temperatures Mediterranean and is strongly and humidity. influenced by the sea. The Maltese Islands have a pleasantly sunny Winters are mild, with the occasional climate with a daily average of short cold spells brought about by around 12 hours sunshine in the north and north-easterly winds summer going down to five to six from central Europe. Annual rainfall hours in mid-winter. Summers are is low, averaging 568mm a year. hot, dry, and very sunny. Daytime Bathing in the sea is quite possible temperatures in summer are well into the ‘winter’ months, and often mitigated by cooling sea the peak beach season can last until breezes. Spring and autumn are mid- to late October. cooler, except when the occasional

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The cultural and social life The Maltese islands also pride In Malta one enjoys a rich cultural themselves in being voted as the and social life. During the summer second ‘Best Diving Destination the Maltese enjoy a great outdoor 2013’ at two separate ceremonies, life due to the Mediterranean the Diver and Sport Diver Awards, climate and the numerous beaches held in London in February 2014. dotting the coastline. Al fresco dining is the order of the day. Language Promenades along the seafront are Maltese (Malti) is the national a meeting place and one can either language of The Maltese Islands stop for a chat or just have a brisk and a co-official language of the walk to get some exercise. country alongside English, while also serving as an official language of the At a distance of a kilometre or two, , the only Semitic you can try out a new sport, laze on language so distinguished. Maltese a cruise around the islands, or tour is descended from Siculo-Arabic the most important historic sites. (the Arabic dialect that developed And after that, you can still have in and later in Malta, between time to enjoy the nightlife which the end of the ninth century and the can be as fast-paced in Malta as in end of the twelfth century). About any European city. Besides, there half of the vocabulary is borrowed are cultural events, from theatre to from standard Italian and Sicilian; street theatre and concerts, that English words make up between 6% take place all the year round. and 20% of the Maltese vocabulary, according to different estimates. It The Maltese islands offer plenty of is the only Semitic language written opportunities for those seeking to in the Latin script in its standard learn a new skill, discover history form. Through the ages, many or get fit. If you’re interested in foreign words, particularly English sports, Malta caters as much for and Italian, have become part of the seasoned enthusiast as well as the language. English is widely and for the novice, with fitness, spa and fluently spoken and is the language sports facilities around the island. of international business.

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Rental accommodation

Rental accommodation is mostly privately owned. When looking for accommodation to rent, you will find that there are real estate agents specialising in rented accommodation while other main stream property agents have a rental section on their websites.

The type of property and its location, standard of furnishings and finishings, and duration of tenancy all affect the price of your rental property. Most often, properties are rented fully furnished, including appliances while utilitity expenses, such as electricity and internet, for long term tenancies are paid for separately by the lessee on a consumption basis.

Properties to let may be found all over the islands, inland properties however, are usually more affordable.

Average rent per month

East coast Inland

€ €

Three bedroom apartment 1315 947

One bedroom apartment 762 588

14 Brochure / report title goes hereLiving | Section and working title goes in Malta here

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The health system

Malta enjoys a high standard of medical care. Modern medical facilities are available through the regional health centres and three general hospitals. There are also a number of private clinics and private hospitals available.

Persons receiving medical treatment who may need to carry medicines into Malta or purchase their medication from Malta are advised to carry a letter of introduction from their family doctor. Medical insurance is advisable if seeking care in private clinics and private hospitals.

In Malta, the Government provides a free comprehensive health service to all residents. All residents have access to preventive, investigative, curative and rehabilitative services in Government health centres and hospitals.

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Transport

Flights Ferry services The Maltese national airline is Air Crossings between the two major Malta, however several major and islands (Malta and ) are run low cost airlines operate scheduled by the Gozo Channel Company’s services to and from main European ferry services. The trip lasts about points, North Africa, the Eastern 30 minutes. One can also use a Mediterranean, and the Middle East. ferry service to travel between and , and a shuttle Roads service from Valletta to Vittoriosa Driving in Malta is on the left-hand and which operates using side. Travelling by car is the easiest traditional Maltese boats. There is way to get around in Malta. Before also a ferry terminal at the Grand driving, ensure that your driver’s Harbour that connects Malta to licence is valid in Malta. Non EU Pozzallo in Sicily. citizens may use a valid driver’s licence issued in their country for Taxis 12 months from the date of arrival. There are three two types of taxis Once this period lapses, a new in Malta: white taxis and coloured licence must be issued through the taxis (black, yellow, pink, and other Driver and Vehicle Licensing Unit. colours). White taxis are run by EU nationals may use the driver’s Transport Malta, the local transport licence issued in their country until authority, while coloured taxis are its expiration. privately operated. Both public and privately run taxis may operate to Buses and from any location in Malta or Bus services on the Maltese islands Gozo. It is recommended that you generally operate 24 hours a day. enquire and agree on a fare before There are a total of 80 different you book or enter a taxi. routes that link the different localities in Malta to either major hubs such as Valletta, Mater Dei Hospital and the Airport or to other destinations.

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Working in Malta

Employment contracts are full- one week’s notice must be given to time or part-time contracts for terminate the employment contract an indefinite period, sometimes during the trial period. called a permanent contract, or fixed term, temporary employment Conclusion of employment contracts. Latest trends in the contracts employment market show that fixed Employment in Malta always term contracts are becoming more involves an employment contract common in both higher managerial whereby the employee agrees grades and in skilled labour for to perform specified work for an project contracts. employer in return for agreed salaries. A written statement It is possible for an employer to showing the conditions of offer several fixed term contracts in employment shall be given to the succession but there has to be an employee not later than eight days acceptable explanation for this. The after engagement. Employment full adoption of European directives may be for a fixed term or for an implies that after a certain number indefinite term and on a full time of years (according to Maltese law, or part time basis. Whichever type it shall not exceed four years) a of employment you are engaged temporary employment contract in, carefully check the terms and has to be converted to a fixed conditions of employment in order employment contract and therefore to ensure that you fully understand the employee would then be your rights and obligations. engaged on a permanent basis. The frequency of salary payments A trial period can be agreed upon varies with the nature of the job. at the beginning of the employment Employees are likely to receive their relationship. The trial period can salaries directly into a bank account. be of six months at the maximum which can go up to one year for high If an employee’s employment profile jobs. During the first month is terminated on grounds of of the trial period, either party can redundancy, that employee will be terminate the employment contract entitled to re-employment if the without giving notice. Subsequently post he/she formerly occupied

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is again available within a period indefinite period contract if the of one year from the date of said employee is not given a new termination of employment. When contract of service within the first 12 an employer intends to terminate working days following the expiry of the employment of an employee the previous contract. on grounds of redundancy, the employer shall terminate the Weekly working time employment on the grounds of last A full time employee in Malta is in first out. Temporary and fixed required to work 40 hours per term employment contracts expire week. According to legislation, every when the specified period ends worker is entitled to a rest break without a notice of termination when the working day is longer than being given. Any employee on six hours, a minimum daily rest a fixed term contract of service period of 11 consecutive hours per whose contract has expired and is 24 hour period, and a minimum retained by his/her employer shall uninterrupted weekly rest period of be assumed to be retained on an 24 hours.

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Overtime, defined as working hours on the grounds of birth, adoption over and above the normal working or legal custody of a child to enable time, must not on average exceed them to take care of that child for a the maximum working time laid period of four months until the child down by employment law which is has attained the age of eight years. of an average of 48 hours per week, In the event that the parental leave unless the employee voluntarily was not availed of or there is still an consents to work for longer periods. existing balance of parental leave, an employee will not be entitled to Actual working hours vary by sector. such leave if there is a change in the employer or in the employment of Annual leave the employee. Employees in full-time employment on a 40 hour week are entitled to Sick leave 200 hours of vacation leave per Employees must notify the year. Part-timers’ leave entitlement employer as soon as possible when is calculated on a pro-rata basis. they fall ill. A doctor’s certificate is Vacation leave can be utilised as required. Employees are entitled to agreed with the employer. salaries during illness according to Maltese law or applicable collective Maternity leave agreements. When the sick leave An employee may apply for entitlement is exhausted the maternity leave for an uninterrupted employer is no longer obliged to pay period of 18 weeks (14 weeks full salaries. The employee is entitled pay; 4 weeks allowance which is to sickness benefits from the Social unpaid unless the employee would Security Department. Entitlement have paid for at least 1 year’s Social from Social Security is applicable Security National Insurance, in after the third day of Sick Leave such case she would be entitled and upon presentation of a medial to the Social Security Maternity certificate to Social Security Services Leave Grant). The employee has within 10 days. to notify the employer before the maternity leave begins, in so far as Other leave is reasonably practicable. Employers are bound by law to grant to every employee a minimum Parental leave total of 15 hours with pay per year Parental leave is the individual right as time off from work for urgent of both male and female workers to family matters. The total number of be granted unpaid parental leave hours availed of by the employee

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for urgent family reasons shall be pertaining to financial or operational deducted from the annual leave difficulties. These include reduction entitlement of the employee. The in workload for economic reasons employer shall have the right to or production-related causes. A establish the maximum number company buyout does not entitle of hours of time off from work in the employer to redundancies. each particular case, save that the Employment can be terminated due minimum time should not be less to serious misdemeanours. than one hour per case unless there is the specific agreement with the The employer must inform the employee. The employer shall have employee some time before the right to demand such evidence the employment ends. Unless as may be necessary to verify and otherwise agreed, this period of confirm the request for urgent leave notice depends on how long the by the employee. employment has lasted.

End of employment The staff member may terminate Employment may be terminated employment at any time, and unless if the employer has a serious otherwise agreed the period of reason for ending an employment notice is from one week to twelve relationship. This reason may weeks, depending on the duration concern the individual staff of employment. member, or it may be collective,

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Life at Deloitte Malta

It’s not all about work, work, work.... we foster and believe in a culture that great teams are developed both on and off the job. That’s why we have created an environment that makes room for frequent get-togethers for our people in order for them to become friends as well as colleagues...

Lunch breaks, coffee breaks, and sometimes even meetings, take place in our rooftop canteen “The Deloitte Terrace”.

Colleagues get their general knowledge tested during “Quiz Night”. April 2018

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“Cereal Day” to ensure a healthy Deloittians enjoy ending the year in style. start. March 2018 December 2017

Bringing the Wild West to the Med during our third End Cooling off with “Ice Cream Day”. of Quarter event. November 2017 August 2017

Life-size paper boat races during last summer’s Audit Team Building event. July 2017

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What do expats working in Deloitte Malta have to say about life here?

It’s great that there are so many people from different countries working together

The HR “Getting Together” events are the best.... hot dog days, breakfasts, ice cream days, end of quarter parties... I just love them

The Malta office culture is amazing. Your colleagues are so helpful, you get to know everybody... everyone’s really close-knit

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I never imagined that I’d learn so much in so many different areas The weather, the people, constant learning.... it’s just been win/win throughout

It’s an experience that will stay with me forever.... I’d be back in a heartbeat

There’s so much to do in Malta, so rich in history, the weather’s always sunny; the country is diverse in every way... it’s certainly been an unforgettable experience

25 Every story has a beginning What impact will you make?

Find out by getting in touch with Deloitte Malta’s Talent Leader, Caroline Cassar Reynaud at [email protected] www.deloitte.com/mt/careers

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/ about to learn more.

Deloitte Malta refers to a civil partnership, constituted between limited liability companies, and its affiliated operating entities: Deloitte Services Limited, Deloitte Technology Solutions Limited, Deloitte Digital & Technology Limited, Alert Communications Limited, Deloitte Technology Limited, and Deloitte Audit Limited. The latter is authorised to provide audit services in Malta in terms of the Accountancy Profession Act. A list of the corporate partners, as well as the principals authorised to sign reports on behalf of the firm, is available at www.deloitte. com/mt/about.

Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our network of member firms in more than 150 countries and territories serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 264,000 people make an impact that matters at www.deloitte.com/mt.

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte network”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication.

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