The Arts Council Malta is accepting applications from self-employed creative practitioners who earned income from eligible artistic activities in 2023. These individuals can choose to be taxed at a reduced rate of 7.5% on their gross income (up to €50,000). Applications must be submitted by April 15, 2024, to qualify.
To benefit from the reduced 7.5% tax rate, applicants must declare their gross income using Form TA26 and submit it, along with the tax payment and a confirmation letter from Arts Council Malta, to the Malta Tax and Customs Authority by April 30, 2024. Late submissions will not be accepted.
Tax paid through Form TA26 is final, with no option for offset or refund. Those choosing this option must declare income exceeding €50,000 from eligible artistic activities in their income tax return and be taxed according to progressive tax rates.
Expenses related to eligible artistic activities can be deducted from income exceeding €50,000, up to a maximum equal to this income. However, any excess expenses cannot be carried forward as trading losses.