Every resident of Malta is required to submit a personal income tax return annually. The default income tax return deadline for individuals, covering the previous calendar year, meaning for the basis period 1 January 2023 to 31 December 2023, is 30 June 2024. These individual taxpayers who are residents of Malta and who may be requested, or are required, to file an income tax return are required to do so, and settle any income tax due, by such deadline.

When preparing a tax return, apart from the form itself, one needs the FS3 being the Payee Statement of Earnings for the year of return. If one holds multiple employments, then all the FS3s from these different employments need to be presented. If on the other hand one is self-employed, he/she is required to prepare an income statement for the year, which can be prepared by an accountant. If one is self-employment on a part-time basis, the declaration form would be different and it would be due in April, not June.

These are simply general guidelines for your tax return as there could be different scenarios for different individuals, depending if you have any additional rental income, other income from local investments, income generated from abroad, assets outside of Malta, and so on.

We are aware that doing tax returns can be a complex process for you. The taxation team at Accounting Services and Fairwinds Management can guide you in the completion and submission of the personal tax return ensuring accuracy.

For more information or to request assistance with your annual tax return, please contact us at:

Email: admin@accountingservices.com.mt

Email: info@fairwindsmanagement.net

Phone: +356 2704 0903

Reach out today to ensure you have ample time for a smooth and timely submission. Our accounting team will ensure the timely submission of your income tax return and will provide you with the right advice.

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.