Get updated with the latest 2022 Malta Budget measures with respect to payroll, social security and employment taxes.
- Cost of living increase of € 1.75 per week applicable to
all employees, pensioners and those entitled to social benefits.
Students receiving stipends will benefit from a pro-rata
increase.
- Tax rate applicable to income from part time work to reduce
from 15% to 10%.
- Part-time workers with more than one employment will have the
opportunity to pay social security contributions with respect to
more than one part-time employment, up to a maximum of 40 hours per
week. This is intended to result in a higher pension.
- Employees with an annual basic salary of not more than €
20,000 shall have the first € 10,000 of their income derived
from overtime work taxed at a rate of 15%.
- Government to setup a website to make available templates of
employment contracts containing minimum requisites provided at law
thus ensuring all employment rights are respected.
- Employees in sectors such as hospitality, transport, manufacturing, wholesale and retail who work nights, weekends and shifts and whose salary does not exceed € 20,000 per annum shall receive an annual in work benefit of € 150.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
