The Arts Council Malta is receiving applications to be recommended for a reduced tax rate of 7.5% applied on the first €30,000 turnover, in line with legal amendment Cap.123 Article 56 26(A) of Income Tax Act. This incentive is aimed at mitigating economic instability for self-employed individuals partaking in artistic activities conducted for an artistic purpose.
For one to qualify for the reduced tax rate, they must be: actors, artistic directors, choreographers, curators, dancers, literary writers, musicians, painters, and/or sculptors.
When the reduced tax rate is applied, the remaining income should be added to the individual’s main source of income and taxed at a progressive rate.
More information can be found here.
Disclaimer: This article is only a summary of the guidelines. This article is purely informational and does not replace the formal guidelines enforced by the authorities.