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Investment Report Doing Business in Malta

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Investment Report Doing Business in Malta Investment Report Doing Business in Malta Prepared by: Research and Policy Review Malta Enterprise Date: June 2015 Document Control Information 1 Document Reference EMRU/BD001/2015 2 Document Type Adobe Acrobat Reader - PDF 3 Security Classification Non-Restricted Distribution 4 Synopsis The objective of the report is to provide investors who are seeking to set-up operations in Malta with basic information about the country. The information provided covers aspects such as lifestyle, utility tariffs, petroleum prices, communication costs, property prices, salaries, graduate figures, corporate and personal taxation systems together with double taxation agreements Malta has entered into with other countries. A section is also dedicated to Business First the one stop shop for the business community. 5 Document Control Name Designation Author Brian J. Camilleri Head, Research (National Statistics) Change Controller Brian J. Camilleri Head, Research (National Statistics) Distribution Controller Fleurette Zarb Cocks Manager Communications Unit 6 Authorisation Marco Abela Chief Officer Research & Policy Review 28th July 2015 7 Modification History Version: 1.0 Date: 28th July 2015 Comments: N/A Contents Investment Report ......................................................................................................................................... 1 Malta Basic Data ............................................................................................................................................ 1 Fact Sheet ...................................................................................................................................................... 1 Malta Enterprise ............................................................................................................................................ 2 Who we are? ............................................................................................................................................... 2 Projects approved by Malta Enterprise .................................................................................................... 2 Foreign Owned Projects ........................................................................................................................ 2 Local Owned Projects ............................................................................................................................ 4 Incentives Offered ...................................................................................................................................... 6 Investment Aid Tax Credits .................................................................................................................... 6 Research and Development .................................................................................................................. 6 Access to Finance Schemes .................................................................................................................. 7 Main Economic Indicators ............................................................................................................................. 9 .......................................................................................................................................... 10 Investors Outlook ......................................................................................................................................... 12 Company Formation .................................................................................................................................... 14 Fees .......................................................................................................................................................... 14 Taxation ........................................................................................................................................................ 16 Double Taxation Agreements .................................................................................................................. 16 Personal Taxation .................................................................................................................................... 17 Implicit Tax Rates on Labour................................................................................................................... 19 Tax for Highly Qualified Persons ............................................................................................................. 21 Foreign Workers ...................................................................................................................................... 21 Corporate Tax ........................................................................................................................................... 22 Operating Surpluses as a percentage of GDP (2013) ............................................................................. 23 Electricity ..................................................................................................................................................... 24 Residential Tariffs .................................................................................................................................... 24 Residential Installation Charges ......................................................................................................... 24 Residential Service Charges................................................................................................................ 25 Residential Rates ................................................................................................................................. 25 Domestic Rates .................................................................................................................................... 25 Non-Residential Tariffs ........................................................................................................................... 26 Non-Residential Service Charges ....................................................................................................... 26 Non-Residential kWh ........................................................................................................................... 26 Non-Residential kVah .......................................................................................................................... 27 Water ............................................................................................................................................................ 28 Domestic Water ........................................................................................................................................ 28 Domestic Installation and service charges ........................................................................................ 28 Domestic Water Tariffs ........................................................................................................................ 28 Non-Domestic Water ............................................................................................................................... 29 Non-Domestic Water Installation and Service Charges .................................................................... 29 Non-Residential Water Tariffs ............................................................................................................ 29 Gas ................................................................................................................................................................ 30 Price of Gas .............................................................................................................................................. 30 Deposits on New Gas Cylinders .......................................................................................................... 30 Tariffs for cylinders to be carried in flats/apartments ...................................................................... 31 Petroleum .................................................................................................................................................... 32 Communication Costs ................................................................................................................................. 33 GO Group Fixed Line Telephony ........................................................................................................... 33 Residential connection and rental charges ........................................................................................ 33 Residential Fixed Line Telephony Tariffs ............................................................................................ 34 Business Connection and rental charges ........................................................................................... 34 Business Fixed Line Telephony Tariffs ............................................................................................... 35 Melita Fixed Line Telephony ................................................................................................................. 35 Connection and Rental Charges .......................................................................................................... 35 Tariffs for Fixed Telephony .................................................................................................................. 36 Mobile Telephony ....................................................................................................................................
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