How high is income tax on residents in Malta?
There are no inheritance, gift, or wealth taxes in Malta. However, a transfer duty is payable by the heir at 5% of the declared property value. If the property is jointly owned by spouses, and one of the spouses has died, 5% is levied on only half the value of the property. Note that under Maltese law, the spouse is not entitled to any inheritance. The whole estate is divided between the children or nearest of kin. To avoid such complications, make sure that a will is written and registered.
