Malta Budget 2022

A summary with highlights of the key fiscal and economic points of the Malta Budget 2022.

PwC's Trend Talks Special Edition Malta Budget 2022

Join our host, Elizabeth Camilleri, on this special edition of PwC's Trend Talks. We look at the Malta Budget 2022 being announced on 11 October as our two guests, Tax Partners Bernard Attard and Mirko Rapa, give their first impressions and insights on the proposed measures. What will be the main socio-economic impacts that will affect Maltese society in the coming year? Have a listen now.


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Malta Budget key highlights 

Welcome to the Malta Budget Highlights for 2022. This budget contains a number of measures aimed at sustaining economic growth in a post pandemic environment. It also introduces various environmental and sustainability related measures. 

Cost of living adjustment of €1.75 per week

Over a 5 year period, taxable income will exclude pension income

Exempt pension income up to €14,318

Tax relief on transfer of properties which are vacant, in UCA or which have traditional features

Tax rate on part time income reduced to 10%

Free public transport to Maltese residents

Social security pensions increase by €5 weekly inclusive of €1.75 COLA

Extension of reduced stamp duty on donation of family businesses

Increased aid when acquiring new electric vehicles or plug-in hybrids

Performance of the Economy

A focus on sustainable economic growth in a post COVID-19 environment. Deficit is estimated to be 11.1% of GDP and government debt is also expected to increase. In 2022, government finances should stabilise subject to anticipated economic growth materialising.

Income & Other Taxes

Reductions in the rates of income tax for pensioners, part timers and artists. Extension of reduced stamp duty on donation of family businesses. Various measures to assist corporate groups that have suffered as a result of the COVID19 pandemic to make use of capital allowances against profits earned by other parts of the group. Increase in interest due on late payment of income tax and VAT as from 1 June 2022.

Social Measures

COLA for the year amounting to €1.75 per week. Various measures introduced targeting mainly pensioners and vulnerable people, such as increases in capital means thresholds, increases in certain social benefits and pensions, and further assistance for carers.

Other Measures

Various measures to assist low income earners to become homeowners. Extension of provision of free childcare to parents working shifts, evenings or weekends. Introduction of various incentives and programmes to attract startups to Malta.

Discover other measures

Sustainability and the Environment

Free public transport and further incentives to promote electric vehicle ownership or cleaner fossil fuel based engines . Additional incentives to encourage investment in renewable energy. 

Commitments to rollout afforestation projects in the south of Malta, greater focus on conservation and development urban zones, public gardens and parks and other public areas and increased availability of financing to fund “green” projects.

Explore sustainability measures 

Get in touch

TAX Partners and Directors

Click on a name to send an email.

At the back, from left to right:
Mirko RapaDavid Ferry, David Valenzia and  Steve Gingell

In front, from right to left:
Mark LautierNeville GattFrancesca Fenech and Bernard Attard.

or call us on +356 2564 6791

Previous editions of Malta Budgets

Visit the 2021 Malta Budget page or request a copy of any older edition of the Malta Budgets, published in previous years.


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