Can I Claim Plant and Machinery as a Business Expense in Malta?
Yes. Plant and machinery qualify for straight-line wear and tear allowances, with the period set by asset type, for example 10 years for other plant and 5 years for other machinery.
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What Malta Tax and Customs Administration (MTCA) says
Wear and tear under S.L. 123.01 is straight-line over statutory periods: catering and medical equipment 6 years, other machinery 5 years and other plant 10 years. The expense must pass the wholly and exclusively test in article 14 of the Income Tax Act. Confirm asset-specific treatment with MTCA or a licensed practitioner.
When you can claim
- Machinery used in production
- Catering equipment
- Medical equipment
- Other plant used in the business
When you cannot claim
- Assets used privately
- Assets with no invoice
- Improvements, which are disallowed under article 26
- Assets already claimed elsewhere
Good to know
Pro tip: Classify each asset by type when it is bought, because the period depends on the category.
Related expenses
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