Malta Budget 2027 Explained: What It Means for You

🇲🇹 MALTA BUDGET 2027 EXPLAINED: WHAT IT MEANS FOR YOU Malta’s Budget 2027 has been announced, and it brings major changes that could affect residents, workers, families, pensioners, non-EU nationals, businesses and tourists visiting Malta in 2027. In this video, I break down the key announcements from Malta’s Budget 2027 and explain what they could mean for your everyday life, your finances, and your plans to live, work or travel in Malta. 💰 Workers & Cost of Living A yearly super bonus of up to €1,000 for eligible workers. A €6.41 weekly Cost of Living Adjustment (COLA). Minimum wage increase of €10.41 per week, including COLA. Additional support for lower-income households through COLA Plus. 🌴 Tourists Visiting Malta in 2027 Hotel eco-tax increasing from €1.50 to €8 per person per night, capped at €64 per stay. Short-let accommodation eco-tax increasing to €10 per night, capped at €80 per stay. A €10 environmental charge for cruise passengers disembarking in Malta. A new €5 charge for tourists visiting Comino’s Blue Lagoon. Tourist fast ferry fares increasing by €3. Higher Gozo ferry fares for tourists. What does this mean if you have already booked your Malta holiday for summer 2027? We discuss the announced changes and what visitors should consider when planning their trip. 🌍 Non-EU Nationals & Work Permits New work permit application fees increasing from €600 to €800. A new €400 annual tariff for new work permit applications and renewals. Changes to free public transport for eligible third-country nationals, including a €33 monthly charge for those who have been in Malta for fewer than five years. Changes to free childcare eligibility for those who have been in Malta for fewer than five years, with an exception for children already attending childcare. A new €83 monthly charge for certain non-EU nationals using a B or B1 driving licence. Changes to eligibility for the atypical in-work benefit. 👵 Pensioners & Elderly Residents Pensions increasing by €10 per week, including COLA. Higher tax-free income thresholds for pensioners. Changes to widows’ and widowers’ pensions. Increased support for people employing a carer at home. Additional support for people who do not qualify for a contributory pension. ⚡ Energy & Healthcare €400 million allocated to energy subsidies for 2027. €75 million allocated to improve Malta’s electricity distribution network. Plans for the second electricity interconnector with Sicily to start operating. €45 million allocated to expand Mater Dei Hospital’s emergency department. Continued work on the planned mental health unit. Travel and accommodation costs covered for a person accompanying someone receiving treatment abroad, under the announced measure. 🏢 Businesses, Companies & VAT A reduced 25% corporate tax rate on retained profits for qualifying companies with annual turnover of up to €1 million. New administrative fines for businesses that fail to issue fiscal receipts. Changes affecting certain VAT and business compliance procedures. 🚤 Boats, Sports & Other Measures Higher yacht and pleasure boat registration fees, depending on vessel size. Ten days of paid leave for eligible athletes competing in international competitions, including their technical and medical teams. Changes to compensation schemes for former workers of certain agencies. 📌 IMPORTANT: These are the key measures announced in Malta’s Budget 2027, as reported by Times of Malta. Eligibility conditions, exceptions and implementation details may apply. Check the relevant official guidance before making financial, employment or travel decisions. 🔗 SOURCE — TIMES OF MALTA: https://timesofmalta.com/article/budg... Time stamps: 00:00 Opening Malta Budget Measures 02:27 Income tax cuts for parents 02:55 Free therapy for children 03:19 Families who foster 03:40 Adopt from abroad 03:51 Eligibility of an allowance for orphans will rise 04:18 Workers bonus 04:29 COLA Cost Of Living Adjustment 05:16 minimum wage 05:36 Four schemes compensating 06:26 Application fees for a new work permit 06:48 A new yearly tariff 08:02 Public transport 08:29 Childcare 08:48 new monthly charge for non-EU drivers 09:33 TCNs 10:22 Pensions 10:38 Maximum pensionable income 10:51 Tax-free income for pensioners 10:02 Pension bonus 11:11 Widows pension 11:31 Extra national insurance 11:40 People who not qualify for a pension 11:50 carer at home grant 12:05 Education 12:21 improve Malta’s energy distribution grid. 12:26 Energy subsidies 12:33 interconnector 13:02 Health authorities will cover 13:10 Expand Mater Dei’s emergency department 13:36 Corporate tax 14:44 VAT dodgers 15:18 Eco-tax 17:45 new charge for tourists visiting Comino 18:16 Fast&Gozo ferry tickets 19:31 Athletes to receive 10 days paid leave 19:42 Registration fees for yachts and pleasure boats 20:00 end Credits 21:59 Comparing minimum wages