Payment of Taxation

    Payment of Taxation

    The payment of Personal Tax can be mainly carried out by three systems, namely:
    • The Provisional Tax system,
    • The Final Settlement System (FSS) or
    • By means of the Self-Assessment
     

    Provisional Tax

    Individuals engaged in a trade, business, profession or vocation are liable for the payment of taxation under the Provisional Tax (PT) system whereby taxation due for a particular year is payable during the same year.
    PT is paid in three installments during the year and the amount of PT due is calculated on the tax due by the individual in the benchmark year.
     

    The FSS (Final Settlement System)

    Individuals in receipt of a salary or wage are liable for the payment of taxation under The Final Settlement System (FSS) whereby the payor of the income deducts tax payments from the monthly wage of the employee.
     

    Other tax payments under the Self-Assessment taxation system

    Another taxation due by an individual in Malta not already paid under the PT or FSS is due to be collected by 30th June of the year following which the income has been received.
     
     

    Why choose Nexia BT?

    Established by Brian Tonna, managing partner, Nexia BT is a corporate and private client advisory, audit, accounting and tax firm. Our clients are local and international financial and other institutions, SMEs, high-net-worth-individuals, the public sector and high-end organisations.

    As a reputable organisation of over 25 years standing and forming part of a worldwide network of independent business advisors, consultants, auditors and accounting firms present in over 115 countries, we are optimally positioned to offer global expertise.

    Along these years, we have built client loyalty around a credible reputation for delivering results whilst working to the highest professional standards.

    Nexia BT’s strength lies in the technically competent staff with experience across a varied range of industry sectors. We deliver solutions to our clients through a high calibre customised service reflected in the professional work approach and ethics of our staff and driven by our ethos ’Closer to you’. With the backing of this business approach, we confidently present you Nexia BT as your trustworthy, dependable and reliable partner in Malta.