Income Tax Act (Cap. 123), article 6

6. (1) For the purposes of this article, an "investment services expatriate" shall mean any individual who is an employee of, or provides services to, an investme nt services company which hold s an investment services licence issued under article 6 of the Investment Services Act or a company which is recognised by the relevant competent authority for the purposes of article 9A of that said Act, and whose activities solely comprise the provision of management, administration, safekeeping or investment advice to collective investment schemes as defined in the aforesaid Act, and an ''insurance expatriate'' shall mean any individual who is an employee of, or provides services to, an insurance company as defined in sub-articl e (4), and either: (a) is not ordinarily resident and not domiciled in Malta; or (b) w a s n o t r e s i d e n t i n M a l t a f o r a m i n i m u m p e r i o d o f three years immediately pr eceding the year in which he commences such employment with or provides services to any investment services company or insurance company as aforesaid and provided that during the said three years such individual has been engaged on a full time basis in a similar position outside Malta. (2) An investment services expat riate or insurance expatriate, for the period from the year preceding the first year of assess ment in which he is first liable to tax under the provisions of this Act up to and including the year preced ing the tenth year of assessmen t, may opt not to be liable to tax on income relating to the follo wing expenditure incurred fo r the benefit of the investment services expatriate or insurance expatriate or his immediate family by t he investment services company or in surance company of which he is an employee or to which he provides investment or insurance services: (a) removal costs in respect of relocation to or from Malta; (b) accommodation expenses incurred in Malta; (c) travel costs in respect of visits by the investment services expatriate or insurance expatriate and his immediate family to or from Malta; (d) provision of a car for the use of the investment services expatriate or insurance expatriate in Malta; (e) a subvention of not more than six hundred euro (600) per calendar month; (f) medical expenses and medical insurance; and (g) school fees in respect of the children of the investment 66 CAP. 123.] INCOME TAX services expatriate or insurance expatriate. (3) An investment services expatriate or insurance expatriate shall be treated as not resident in Malta for the purposes of a rticle 12(1)( c). Cap. 403. Cap. 487. (4) For the purposes of this article, an ''insurance company'' shall mean a company authorised under article 7 of the Insurance Business Act , an insurance manager as defined in article 2 of the Insurance Distribution Act and a company carrying on the business of insurance broking under article 12 of the Insurance Distribution Act. Year of assessment 1973. Added by: XXXV .1972.4. Amended by: XXXI. 1988.3; XXXVI.1990.3. Renumbered by: XVII. 1994.2. Amended by: XVII. 1994.9.