S.L. 123.126 Art. 6Claw-back of benefits.

(1) Subject to the provisions of rule (7), the option available under article 56(21) of the Act shall, with respect to EEA

and Swiss nationals, apply for a consecutive period of five years commencing from the year preceding the first year of assessment in which that person is first liable to tax under the provisions of the

Act.

(2) Subject to the provisions of rule (7), the option available under article 56(21) of the Act shall, with respect to third-country nationals, apply for a consecutive period of four years commencing from the year preceding the first year of assessment in which that person is first liable to tax under the provisions of the Act.

(3) Rights acquired under this law shall be deemed to have been withdrawn with immediate effect if the grant of benefits under these rules and the beneficiary’s stay in Malta are not in the public interest.

(4) Rights acquired under this law shall be deemed to have been withdrawn with retrospective effect if a beneficiary is a third-country national and he directly or indirectly acquires real rights over immovable property situate in Malta or holds a beneficial interest directly or indirectly consisting in, of real rights inter alia, over immovable property situated in Malta.

(5) Notwithstanding anything to the contrary contained in these rules, but subject to rule 14, any person who falls under the provisions of sub-rule (1) or (2), irrespective of whether he has opted to benefit from the provisions of these rules or otherwise, upon submitting an application, shall be eligible to two further extensions of four or five years, as the case may be, for his qualifying period, subject to the continued adherence to the other provisions of these rules: Provided that, this extension shall not be available to any person who was resident in Malta prior to the 1st January 2008, and that the maximum qualifying period shall not exceed a consecutive period of twelve or fifteen years, as the case may be, in the case of a person who is not domiciled in Malta, commencing from the year preceding the first year of assessment in which that person is first liable to tax under the provisions of the Act.