Rental income derived in Malta
 

Hi, I am a married UK citizen currently living in Malta and thinking of buying a rental property to derive some income, does anyone know how the tax situation would be calcultated - I have read that there is a 15% tax rate system - based on gross rental income - but that also one can opt for having normal tax rates applied to the rental income and that in this case different tax rates and allowances would apply.

The problem is that any examples quote enormously high rental rates - 1500 per month etc. Given the amount of money we have available for any purchase we would probably only receive around 650 Euros a month rental and I have been informed that the letting agents would take about 100 of that a month. The property would be furnished so would there be any allowance for depreciation of furniture - our purchase budget allows for around 15000 Euros worth of furniture - including fully fitted kitchen

And finally, in order to be able to rent a property out does it have to be registered for letting?

Re: Rental income derived in Malta
 

Does the following help you?

As for rentals, well, I know that rent for a decent furnished 2 bedroom apartment in Sliema for 6 month period for around €450 - €500/mth, lower in other places, higher in some.

related info

http://www.csb-advocates.com/malta-l...roperty-rental

http://www.csb-advocates.com/malta-l...on-real-estate

http://www.franksalt.com.mt/EN/conte...l_requirements

https://www.gov.mt/en/Life%20Events/...ed-Topics.aspx

Have you checked the agents listings?

Holiday rentals are different issue & you have to deal with leasing & management companies and/or doing all the fix & repairs while you are living in the UK.

short lets

http://www.quicklets.com.mt/short-let-malta

Long lets

Frank Salt Real Estate Malta: Search Letting Property

Long Let Property in Malta by Quicklets

As for the MTA registration/licence as well as tax treatment on rental income

in the following links

https://ird.gov.mt/faq/rentalfaq.aspx

http://www.mta.com.mt/licences

Taxation of rental income derived from the letting of residential tenement

https://ird.gov.mt/services/taxrates.aspx