In Malta legislation has been presented to parliament to implement measures that were presented in the government’s budget for 2014.
The proposed amendments include the introduction of a new tax bracket; the extension of the parental computation; amendments to combat tax evasion; the abolition of duty on the transfer of movables by auction; and a widening of the exemption from duty upon the inheritance of immovable property by disabled persons from their parents or legal guardians. Also, tax rates applicable to residents of Malta will also apply to individuals resident in EU/EEA member states.
