Source: Kinga Warda¸ PKF Malta
Malta has now 66 double taxation and other bilateral agreements. New treaties recently concluded with Guernsey and Norway will come into force from 1st January 2014. The beginning of 2013 was fruitful in Tax Treaty Developments for Malta. The following treaties came into effect:
- Malta – Bahrain
- Malta – Hong-Kong
- Malta – Switzerland
- Malta – Uruguay
- Malta – Saudi-Arabia
Malta – Bahrain
The Double Taxation Relief on Taxes on Income between Malta and Bahrain was signed on 12 April 2010 and came into force on 28 February 2012. However¸ the provisions of the treaty came into effect on 1 January 2013.
The agreement was signed by Shaikh Amed bin Mohammed Al Khalifa¸ Bahrains Minister of Finance¸ and Tonio Fenech¸ Minister of Finance¸ Economy and Investment in Malta.
According to tax treaty¸ the following withholding taxes will apply:
|
Dividends |
0% withholding tax on dividends |
|
Interest |
0% withholding tax on interest |
|
Royalties |
0% withholding tax on royalties |
Malta – Hong Kong
The Hong Kong – Malta Income Tax Treaty has entered into force on 18 July 2012.The provisions of the treaty came into effect from 1 April 2013 in Hong Kong and from 1 January 2013 in Malta.
The agreement was signed by Professor K C Chan¸ representing Hong Kong¸ and ambassador Joseph Cassar.
The following withholding taxes will apply:
|
Dividends |
0% withholding tax on dividends |
|
Interest |
0% withholding tax on interest |
|
Royalties |
3% withholding tax on royalties |