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MaltaCommando wrote:

Hello, my father is thinking of relocating permanently to Malta, and as such, move his retirement pension to a Maltese bank account.

He receives part of his pension from UK (around 500 € monthly) and the other from Spain (around 800 €). We have read that private foreign individuals residing in Malta would be paying 15 % of tax for their retirement pensions that are paid into a Maltese bank account.

Is this right? or is it only for higher pensions? are all pensions taxed here in Malta regardless of their amount?

You are liable for tax on all monies remitted to Malta other than from capital and on all monies earned in Malta. Tax is paid on monies over and above the tax allowance which is, from memory, around €9500 each. There is a 'Dual Taxation' system so that tax already paid on any money transferred to Malta can be set against tax in this country.
We have our pensions paid in to our UK accounts and then transfer whatever we need to Malta so we can keep the tax liability to a minimum and transfer funds when rates are at their best, we have been told by HMRC that we are no longer in the UK tax system. This way we can pay for some things from our UK accounts, such as flights and hotels, and keep this money out of the Maltese system. (Not sure whether this is legit or not so do not take this as formal tax advice! )

Ray

Chalks1 wrote:

Thanks GozoMo  ive booked a bus tour of Gozo on Monday and if I like it will bring my rental car over on Tuesday/Wednesday for a proper look. Any areas you can suggest that I should pay attention to for apartments appreciated. The car hire guy suggested Marsalforn and Xlendi ?

Anywhere but Marsalforn and Xlendi, too touristy and very busy as they both have a lot of
restaurants and even this time of year you find it hard to park a car at the weekend we
love Gharb as there are restaurants but quieter and some lovely walks.