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FORM TA 24 Payment of 15% Tax on Rents from Residential Lets Article 31D of the Income tax Act (Cap 123) This form is to be used by persons who are opting to pay tax at 15% on rental income from tenements.

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How to fill out the Ta 24 Form online

The Ta 24 Form is essential for individuals opting to pay a 15% tax on rental income from residential properties. This guide will walk you through each section of the form, ensuring a comprehensive understanding of how to complete it accurately and efficiently online.

Follow the steps to complete the Ta 24 Form online.

  1. Click 'Get Form' button to obtain the form and open it in the online editor.
  2. In the form, start by entering your personal information, including your full name and contact details.
  3. Fill in the address or description of the property from which you are deriving rental income. Provide the number and street name.
  4. Next, input the total gross rent received for each property. You can list multiple properties by entering the data in sequence.
  5. Calculate the total gross rental income subject to the 15% tax rate, and ensure it reflects the total for all properties listed.
  6. Determine the total tax amount by calculating 15% of the gross rental income and fill in that amount on the form.
  7. Review the declaration section where you will need to confirm that all provided information is accurate.
  8. Finally, provide your Income Tax/I.D. number, sign the form, and date it accordingly.
  9. After completing the form, you can save your changes, download the completed form, print it, or share it as necessary.

Complete the Ta 24 Form online today to ensure your rental income is taxed correctly.

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A person will not pay tax on the amount already paid as property tax. The property tax amount paid for that year is deducted from the total rental income of the year or the Gross Annual Value (GAV). A 30% deduction on the Net Annual Value is permissible under Section 24A of the Income Tax Act.

As a general rule, the letting of immovable property is treated as exempt without credit. Therefore, in principle, any taxable person renting out immovable property will not charge Malta VAT and will not have a right to recover input VAT.

Vat on Renting/Leasing of Property in Malta Provided certain exceptions apply: The letting of or the provision of accommodation in holiday flats or other premises required to be licensed in virtue of the Malta Travel and Tourism Act, or in a holiday camp or camping site. The chargeable VAT rate in this case is 7%.

For the income arising in 2021, the flat rate applies on rental income arising from both immovable properties that are rented out for residential purposes as well as immovable property which is rented out for commercial purposes. The 15% can be used by both individual taxpayers as well as companies.

Overview. The taxpayers will submit data related to their Rental Income and will pay 15% tax.

Services made to members of non-profit making organisations are exempt without credit and the organisation is not required to register for VAT.

Property taxes in Malta Taxes need to be paid when buying and selling a property. Taxes paid by the buyer: Stamp duty: 5% of the value of the residential property (in some cases 2%, and until March 2021, 3.5% for a property costing at least €200,000 ) Notary fee: 0.25–1% of the property's value.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232