As at 2021, tax credit granted by the government stands at 25% of monies saved in a personal pension plan capped at € 750 for the year.
The tax credit is only available in respect of the income tax chargeable for the year during which the contribution was made. Unused credits cannot be carried forward to subsequent years.
ELIGIBILITY FOR TAX CREDIT
You may claim the tax credit against your contributions if you are:
1. Age eighteen or over at the time when a contribution is made; and
2. domiciled and/or resident for tax purposes in Malta
If you meet the above criteria then we will issue a certificate confirming that your MSV Personal Pension Plan satisfies the relevant legislation to enable a tax credit to be granted.
TAX TREATMENT OF THE PLAN
Tax treatment depends on the individual circumstances. Tax legislation and the amount of rebate may change in the future.