04.06.2025
What You Need to Know
What You Need to Know
Every resident of Malta is legally required to file a personal income tax return on an annual basis. This obligation covers the income earned during the previous calendar year. For instance, for income earned between 1 January 2024 and 31 December 2024, the deadline for submitting your tax return is 30 June 2025.
Whether you are employed, self-employed, or receiving other forms of income, it is essential to understand your obligations and prepare your tax return accordingly. Timely submission and accurate declarations help you avoid penalties and ensure that any tax due is settled within the legal timeframe.
Documents Required for the Income Tax Return
When preparing your personal income tax return, the primary form required is the Income Tax Return form issued by the Commissioner for Revenue. However, supporting documents are just as important:
- FS3 (Final Settlement System Form):
This is the Payee Statement of Earnings provided by your employer, summarising your total earnings and tax deductions for the year.- If you had multiple employments, you must include all FS3 forms from each respective employer.
- Self-Employed Individuals:
If you are self-employed, you are required to prepare and submit an income statement outlining your business income and expenses for the relevant year. It is advisable to engage a qualified accountant to ensure your income statement is accurate and compliant with Malta’s tax regulations.
- Part-Time Self-Employment:
Individuals who are self-employed on a part-time basis must file a different declaration form, and the submission deadline is typically in April, rather than June.
Additional Income Considerations
Beyond employment and self-employment income, there are various other income streams that must be reported in your tax return. These may include:
- Rental income from properties in Malta or abroad
- Dividends, interest, and capital gains from local or international investments
- Foreign income or pensions
- Assets held outside of Malta
Contact Us Today
Filing a tax return can be overwhelming especially if your financial situation involves multiple income sources, international elements, or self-employment. At Accounting Services and Fairwinds Management, our experienced taxation team is here to simplify the process for you.
We will assist you with:
- Compiling and reviewing the necessary documentation
- Preparing and filing the income tax return
- Calculating your tax liability accurately
- Ensuring the return is submitted on time to avoid penalties
Don’t leave your tax return to the last minute. Reach out to us for professional, timely, and hassle-free support.
Email: admin@accountingservices.com.mt
Email: info@fairwindsmanagement.net
Phone: +356 2704 0903
Ensure peace of mind by trusting your personal income tax return to professionals. Contact us today and give yourself ample time for a smooth and compliant submission.
Fairwinds Management Limited is a MFSA licensed firm offering Business Solutions in Malta. As part of our services, we offer Accounting, Administration, Corporate and Legal solutions. Fairwinds Management also manages the brand Accounting Services. More information about us and our key services please visit our website. You may reach Fairwinds Management on +356 2704 0903 or info@fairwindsmanagement.net.
Article written by Ms Charlene Sciberras, B.A. (Hons), guest writer, a marketing and business administration specialist with a special focus on corporate, accounting, and legal matters.