The deadline for reporting of part-time self-employed profits in terms of Article 90A is 30 April 2019 for any income earned during calendar year 2018. The tax must be paid together with the prescribed form TA22 available on the Commissioner for Revenue's website. The income reported is to be excluded from the tax payer's tax return.
The tax rate is available on a maximum of €12,000 with the remaining profit being added to the tax payer's chargeable income, and such activity must be registered with Jobs Plus. Tax Payers must not employ more than 2 employees (who may only be employed on a part-time basis) and be registered for VAT purposes if applicable.
In order to be eligible to benefit from this 15% rate, the tax payer or his spouse must either be deriving income from full time employment and registered as such with Jobs Plus or be in receipt of a pension or be receiving full time instruction at educational institutions in Malta or was serving an apprenticeship with a view to qualifying in a trade or profession.
Speak now to one of our experts, who can help you to comply to all your tax obligations and guide you to file your return.