S.L. 123.163 Art. 4General conditions for qualifying individuals.

(1) An individual contributing or making payments to a qualifying scheme may only claim the tax credit referred to in article 57 of the Act if the individual:

(a) is eighteen years of age or over at the time when a contribution or payment to a qualifying scheme is made; and

(b) is domiciled and, or resident for tax purposes in Malta; and

(c) is in possession of a certificate issued by the licence holder administering the qualifying scheme where the administrator confirms that:

(i) all the details required under sub-rule (3) have been provided by the individual, and

(ii) the qualifying scheme satisfies all the requirements referred to in rule 5; and

(d) is included in the statement referred to in rule 7(2).

(2) When a qualifying individual intends to make any claim for a credit against the income tax chargeable in Malta in a particular year in relation to contributions or payments to a qualifying scheme, such individual must lodge an application with a licence holder who administers a qualifying scheme, which application need only be made in the year in which the qualifying individual first subscribes to that qualifying scheme.

(3) Such an application shall include the following information:

(a) the first year of assessment to which the application relates,

(b) a declaration that all contributions or payments to be made to the qualifying scheme shall be from the applicant’s own assets or those of applicant’s spouse, and not of any other person,

(c) a declaration that the individual is ordinarily resident for tax purposes in Malta, and that the applicant will inform the licence holder if he ceases to be so ordinarily resident,

(d) the applicant’s full name,

(e) the applicant’s residential address,

(f) the applicant’s tax registration number or the tax registration number of the applicant’s spouse,

(g) the applicant’s identity card or passport number, and

(h) the applicant’s date of birth.