BCMS Limited
243/1 Constitution Street
Mosta, MST 9052

T: +356 2142-1111
M: +356 9947-5566
F: +356 2141-7118
E: rkg@bcmsltd.com

15% tax on rental and part time income- New deadline!!

vat_calcIf you had rental income on residential dwellings or earned income eligible under the part time rules during 2018 please be advised that the Commissioner for Revenue has brought forward the deadline for submission of the necessary form and payment  of tax at 15%  from 30 Jun to 30 April 2019.


In the case of rental income you must first ascertain if it is advantageous to pay tax at 15% on the gross rental income rather than at the marginal tax rates that would normally apply on your annual tax return. Rental income from connected undertakings do not qualify for the 15 % tax rate option.

In order to be eligible for this  lesser tax rate taxpayers must submit a form and pay the resulting tax by not later than 30 April 2019.  Since it is not necessarily in everyone’s interest to apply this rate it is important to contact us to evaluate if applying for this lesser rate is to your advantage.

Similarly if you earned income that is eligible under the part time rules during 2018 which would normally be subject to the 15% rate of tax (using the statutory form TA 22, the form and the payment on that income must be submitted and paid by 30 April 2019.

We can assist you on both options- If you would like to take advantage contact us without any further delay.