Malta revises social security and maternity fund contribution rates for 2024
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Changes in social security contribution
Following the increase in the minimum wage to € 213.54 per week, Malta’s Commissioner for Revenue has published the social security and maternity fund contributions for 2024 tax year.
Class 1 categories and rates are mentioned below:
| Category | Description |
|---|---|
| A | Persons under 18 years of age earning not more than the amount indicated below. |
| B | Persons aged 18 and over, earning not more than the amount indicated below. |
| C | All persons whose basic weekly wage is between the amounts indicated below |
| D | All persons whose basic weekly wage is equal to or exceed the amount indicated below. |
| E | Students * under 18 years of age. |
| F | Students * 18 years and above. |
*Students who are following a full-time course of studies or instruction under the student-worker scheme, or other similar schemes (including the extended skills training schemes but excluding the worker-student schemes) involving distinct work and study periods for which they are receiving remuneration.
| Category | Basic weekly wage from (€) | Basic weekly wage to (€) | Employee Rate (%) | Employer Rate (%) | Total | Maternity (%) |
|---|---|---|---|---|---|---|
| A | 0.10 | 213.54 | 6.62 | 6.62 | 13.24 | 0.20 |
| B | 0.10 | 213.54 | 21.35* | 21.35 | 42.70 | 0.64 |
*Or if the employee chooses, 10% of the basic weekly wage. This rate of contribution entitles the contributor to pro-rata contributory benefits.
Rates for persons born up to 31st December 1961:
| Category | From | To | Employee Rate (%) | Employer Rate (%) | Total | Maternity (%) |
|---|---|---|---|---|---|---|
| C | 213.55 | 423.07 | 10 | 10 | N/A | 0.30 |
| D | 423.08 | N/A | 42.31 | 42.31 | 84.62 | 1.27 |
Rates for persons born from 1st January 1962 onwards:
| Category | From | To | Employee Rate (%) | Employer Rate (%) | Total | Maternity (%) |
|---|---|---|---|---|---|---|
| C | 213.55 | 532.28 | 10 | 10 | N/A | 0.30 |
| D | 532.29 | N/A | 53.23 | 53.23 | 106.46 | 1.60 |
Rates for persons born from 1st January 1962 onwards:
| Category | From | To | Employee Rate (%) | Employer Rate (%) | Total | Maternity (%) |
|---|---|---|---|---|---|---|
| E | N/A | N/A | 10% (Max 4.38) | 10% (Max 4.38) | N/A | 0.30% (Max 0.13) |
| F | N/A | N/A | 10% (Max 7.94) | 10% (Max 7.94) | N/A | 0.30% (Max 0.24) |
Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change.
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