Amendment to Tax on Overtime rules

A new proviso to Rule 3 of the Tax on Overtime Rules (SL 123.200) has been added by LN 68 of 2022:

“Provided that with effect from the year of assessment 2023, the said provisions of article 90B of theAct shall apply to qualifying overtime income derived by an individual in the year immediately preceding the year of assessment up to an amount not exceeding:(a) ten thousand euro (€10,000); and(b) the amount resulting when the actual number of hours is multiplied by maxrate, where “the actual number of hours” means the actual number of hours of qualifying overtime in respect of which the individual has derived qualifying overtime income and “maxrate” is the rate defined above.”