Tag Archives: living in Malta

Where in the world are you taxed most as an expat?

For useful articles and tips on moving to other countries and life as an expat, please like the PSS International Removals Facebook page and follow the Twitter profile

 

Numbers And Financewww.SeniorLiving.Org

Numbers And Financewww.SeniorLiving.Org

This is according to new research from the Molinari Institute. Each year the Institute works out each country’s Tax Liberation Day. This involves them assessing the tax, social charges and VAT each worker pays to the state compared to what they earn in average. They then work out how many days of that year it will take the person to pay it.

In France, it takes until the 29 July for each worker to pay their due, making them the highest taxers in Europe. The study found that in France 57.67% of the cost of the salary goes to the government. This year France has displaced Belgium, who held last year’s tax crown, with their Tax Liberation Day standing at July 27th. Belgians pay 56.9% of their salary to the government, which is a decrease from 59.47% last year. That said, as the report also points out that an increase in taxes on fuel, electricity and other essential services means that Belgians won’t see a real increase in their income.

Good news in Austria has cut its personal income tax rates in 2015, to save the country’s residents from being the most taxed in Europe, which has a huge impact on their Tax Liberation Day. Austria’s day is now July 19th, an incredible 15 days less than the year before.

In debt ridden Greece, it’s no surprise that their Tax Liberation Day has increased by 24 days since 2010. They currently stand at July 7th, having been at June 13 six years prior. With an increase in tax, and a decrease in salaries, their take home pay has dropped by 20% in the same period.

So where is the good news? Well, their are plenty of countries where living as an expat may be a bonus. Cyprus has the lowest income tax rates, at typically 1.5% of gross salary, making it the country with the lowest Tax Freedom Day. Live there and you will have paid back the tax by March 29th.

Malta (April 18), Ireland (April 30th), UK (May 9) and Bulgaria (May 19th) also top the poll. Countries such as Denmark, Luxembourg, Estonia and Spain follow close behind.

Interestingly, in euros, the report found that gross salaries ranged from 5,049€ (Bulgaria) to 54,560€ (Luxembourg). The average gross salary among the 28 states was 26,594€.

The report’s key findings across Europe included:

1. As a single economic entity, typical workers across the European Union saw their average “real tax rate” dip slightly this year, from 45.2% to 45.0%. Since 2010, this figure has risen by 1.0%, due mostly to VAT increases in 20 of the 28 states.

2. 44.4% of all payroll taxes collected in the EU countries – employer contributions to social security paid on top of gross salaries – are largely invisible to employees.

3. More than half (54.9%) of EU citizens are not in the labour force – a figure that is worsening as Europe’s population grows older : Since 2010, the proportion of Europeans outside the labour force has grown by 1 %.

Living overseas is never an easy decision but if you’re hoping to earn a good salary, it might be worth looking at the list in full to see exactly where your Tax Liberation Day may be. For a full list visit this website.

If you are considering a move abroad PSS International removals can help. We are a family run company and our desire is to ensure your family receives a friendly, professional and stress free overseas move. We have specialised in international removals for over 34 years, so whether you are planning on sending a full or part household removal, excess baggage or a vehicle we recognise the importance of ensuring our customers receive the same level of care and attention that we would expect ourselves.

Contact us now for a free estimator’s survey, or simply fill in our online moving or baggage quote form.

What You Need To Know About Living In Malta

For useful articles and tips on moving to other countries and life as an expat, please like the PSS International Removals Facebook page and follow the Twitter profile

 

Bryn Pinzgauer, Valletta, May 2016

Bryn Pinzgauer, Valletta, May 2016

Malta is situated in the Mediterranean close to both Italy and African continents. This close proximity to such diverse cultures has – and still does – influence the country greatly. In 60AD St Paul brought Christianity to Malta but by 870AD the Arabs invaded. Until 1530 Malta was an extension of Sicily after which the Sovereign Military Order of St. John of Jerusalem ruled until 1798. France too invaded but in 1800 the British took over and ruled until 1964 when Malta gained its independence. In 1974 Malta became a republic.

To this day, the British are well received in Malta and many older people reside there thanks to the warm weather. Malta consists of three islands: Malta, Gozo and Comino. Malta is the largest island and its capital Valletta is on the north-east coast. If you’re thinking of moving to Malta here are some essential facts and figures.

Language:

The official languages of Malta are Maltese and English. Maltese or ‘Malti’ is a unique language (the only language of Semitic origin written in Latin) and over time words from the English, Italian and French dictionary have been incorporated. Due to its close proximity to Italy, Italian is widely spoken too.

Currency:

Malta introduced the Euro as the official currency in 2008. It is also the official currency of the neighbouring island of Gozo.

Accommodation:

There are restrictions on property ownership in Malta. If you are an EU citizen or foreign national you can only buy one property in Malta. You can only buy it if you intend to live in it and not rent it out.  However, there are certain areas on the island where these rules do not apply. House prices across all the different styles of homes including apartments, terraces, maisonettes and town houses have continued to rise. The average price for a 3-bedroom house costs €350,000 (£254,686) and 3-bedroom apartments from €140,000 –  €400,000 (£101,916-£291,150).

Healthcare:

Malta has an exceptionally good healthcare system and all residents, including those from the EU, and with a European Health Insurance Card (EHIC) are entitled to free healthcare in government health centres and hospitals. There is also a thriving private healthcare system too with many citizens taking this up alongside the public system.

Employment:

As a citizen of an EU country moving to another EU country you won’t need a work permit to take up employment in Malta. This also means you have the same rights as national workers including those related to working conditions, pay and social security. In some instances, working for Maltese companies could prove problematic for expats as having a working knowledge of the language and customs can be an issue. That said, with the travel and tourism trades, ICT, gaming and finance big news in Malta, English-speaking candidates can apply.

Climate:

Set where it is in the Mediterranean, Malta has very sunny summers with around 12 hours of sun per day. Summers are dry and hot, but it can be windy. In the winter, sunshine hours amount to just 5-6 but it is mild and generally not too cold. Rainfall is low too, 568mm a year.

Malta’s climate is typical of the Mediterranean and is strongly influenced by the sea.

Education:

As a former British colony the Maltese school system will be familiar with those settling there from the UK. School is compulsory from the ages of 4-16 years. Children start at kindergarten, then go to Primary, Secondary and onto High School (or Sixth Form college) where students study for their A levels. There are also private schools, which are often linked to the Catholic church, and a selection of international schools.

Transport:

For such a small island Malta has a very high proportion of car drivers, who like the Brits, drive on the left. There is also a public transport system that is heavily reliant on taxis and buses. National and international driving licences are accepted should you wish to hire a car whilst you are there.

For more information about how PSS International can help you make your move to Malta visit https://www.pssremovals.com

PSS International Removals is a family run company and our desire is to ensure your family receive a friendly, professional and stress free overseas move. We have specialised in international removals for over 33 years, so whether you are planning on sending a full or part household removal, excess baggage or a vehicle we recognise the importance in ensuring that our customers receive the same level of care and attention that we would expect ourselves.