Pay roll Actualities 2023 in Malta

Cost of Living Adjustment (COLA)
Full-timers: €9.90 per week
Part-timers: €0.25 per hr*

Minimum Wage
18 yrs and over: €192.73 per week (€4.82 per hr* for part-timers)
17 yrs: €185.95 per week (€4.65 per hr* for part-timers)
Under 17 yrs: €183.11 per week (€4.58 per hr* for part-timers)

In addition to COLA, the weekly wage must be revised to reach €3 per week above minimum wage after the first year of employment and €6 per week above minimum wage after the second year.

Public Holidays
JAN: Sunday 1,                         JUN: Wednesday 7, Thursday 29
FEB: Friday 10                         AUG: Tuesday 15
MAR: Sunday 19, Friday 31       SEP: Friday 8, Thursday 21
APR: Friday 7                           DEC: Friday 8, Wednesday 13, Monday 25
MAY: Monday 1st                         

Public Holidays falling on a weekend
2023: 2 days 2025: 4 days
2024: 6 days 2026: 3 days
For every Public Holiday falling on a weekend, 8 hrs of additional Vacation Leave are due to full-timers.

Vacation Leave
2023: 192 hrs + 16 hrs = 208 hrs (26 days) 2025: 192 hrs + 32 hrs = 224 hrs (28 days)
2024: 192 hrs + 48 hrs = 240 hrs (30 days) 2026: 192 hrs + 24 hrs = 216 hrs (27 days)
A maximum of 12 days (96 hrs*) from annual leave entitlement may be utilised for Shutdowns and Bridge Holidays.

Part-timers are entitled to vacation leave pro-rata the average hours worked in the previous quarter (13 weeks: January-March; April-June; July-September; October-December).

Tax Rates
Part-time employment where it is not the main employment: 10% on the first €10,000
Part-time self-employment where it is not the main employment: 10% on the first €12,000
Overtime: 15% on the first €10,000 provided annual basic wage is under €20,000

Full-time employment and all other employment income is taxed according to applicable tax rates:

- Single Tax Rates apply to single persons and married persons whose spouse is in employment and who do not have dependent children (under 18 or under 23 years and full-time students);

- Parent Tax Rates apply to married persons whose spouse is in employment and who have dependent children;

- Married Tax Rates apply to married persons whose spouse is unemployed or single parents who have dependent children

* Based on a standard 40-hr week. Wage Regulation Order may specify different standard working week for certain sectors

National Insurance Contributions apply, made available on request

Retirement Age
Born 1962 or later: 65 years
Born 1959-1961: 64 years

Persons who attain the age of 61 years may choose to retire earlier on a lower pension if they have the required number of fully paid NI Contributions:
- Born before 1961: 35 years (1820 contributions)
- Born between 1962 and 1968: 40 years (2080 contributions)
- Born 1969 onwards: 41 years (2132 contributions)

Source: The Malta Chamber of Commerce, Enterprise and Industry, January 2023