What is the NI rate in Malta?

What is the NI rate in Malta?

If you are a self employed individual in Malta, you are still required to pay your National Insurance (NI) contributions. The rate that needs to be paid is of 15% of your net annual income.

What is the Social Security rate for 2021?

NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings.

How much is the social security tax in Malta?

Class 2 Social Security Contributions in Malta are based on 15% of the annual net profit or income gained from the preceding contribution year. Farming is the only exception whose contribution rate is 10%. Unlike Class 1, Class 2 Contributions are paid every four months in April, August, and December.

Is Social Security taxable in Malta?

Employer and employees make social security contributions in Malta on a graduated scale. Employers deduct the social security contribution from pay slips automatically, together with the income tax payment.

How do I pay my NI in Malta?

You can pay on-line either through the Government Payment Gateway or through Internet Banking, especially if the payment due exceeds your card limit.

  1. Commissioner for Revenue Payments.
  2. Government Payment Gateway.
  3. Internet Banking.
  4. Security.

How is pension calculated in Malta?

The Maximum Pension Income will increase annually by the following formula: Maximum Pension Income = Maximum Pension Income + [(70% of Increase in Wage Inflation) + (30% of Increase in Inflation)].

How much Social Security tax do I pay?

The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total.

Who pays Social Security in Malta?

All persons who are over the age of 16 and who have not yet attained retirement age of 65 years, and who are in insurable employment, are liable to pay Social Security Contributions.

How is Social Security tax paid?

You can get these forms from the IRS on their website at Send the tax return and schedules, along with your self-employment tax, to the IRS. Even if you don’t owe any income tax, you must complete Form 1040 and Schedule SE to pay self-employment Social Security tax.

How do I pay my NI Online Malta?

To effect payment customers have to access the Inland Revenue Department website ( and go to the online payment page. The next step is to key in the payment reference, which is printed on the provisional tax payment form, and carry on from there.