Arts and lifestyle – New income tax rate of 7.5% for artists

A new income tax rate of 7.5% for artists will be introduced from basis year 2022.

For the purpose of artists’ income tax, government will introduce a mechanism that sets artists’ income over an average of three years.

Government will be allocating €1m to create a guarantee scheme for independent artistic activities with the aim of helping producers and promoters to recover costs that cannot be recuperated due to unexpected restrictions that may be necessary if circumstances change.

In addition, government will continue to strengthen the aid scheme for seats that cannot be sold in the event of new restrictions on events. To this end, a total of €2m has been invested.

Government will also create a support scheme for independent art projects to be run by the Malta Council for the Arts. Another €2m have been allotted to this scheme.

Government will continue to help and incentivise artists, producers and promoters of artistic, cultural and entertainment activities so that they too can continue to fully contribute to the artistic and economic recovery of the sector.

Sports

From next year, Sport Malta will continue to invest in more sports facilities including the Marsa Complex and the Olympic-sized swimming pool in Cospicua

Work will also be carried out on the waterpolo pitch in Marsascala, Valletta and Marsaxlokk.

A new football stadium will be built for Msida St Joseph.

For rowing enthusiasts, Sport Malta will also invest in a national rowing tank and enable the training of this national sport.

The Outdoor Velodrome project will be incorporated into the phases of the ongoing project in Ta’ Qali.

Work on the Aquatic and Sports Centre is progressing at a rapid pace. Through this investment, Gozitans will be enjoying an Olympic level swimming pool as well as a new sports pavilion in the heart of Victoria. This is the largest sports’ investment ever made for Gozo.

The Marsa Complex will continue to extend the facilities provided to accommodate a gymnastics centre where athletes will be able to carry out their training with adequate and safe facilities.

Broadcasting

Investment from PBS will progress for a modern TV House with the aim of better serving its stations.

An investment for a television stage will also take place, while a Malex House with production facilities, will be developed to welcome a new newsroom along with news studios.