Nomad Residence Permit Income Tax Rules

Rules governing the taxation of holders of a Nomad residence permit have been published by LN 277 of 2023.

The rules establish that permit holders will be chargeable to income tax at the rate 10% on  chargeable income derived from “authorised work” as defined, subject to any relief of double taxation under the Income Tax Act. The rules clarify that the permit holder will not be charged to income tax on income derived from authorised work before the end of 12 months from the later of the date of issue of the nomad residence permit or 1st January 2024, unless the residence in the said 12 month period is declared to be not merely of a casual nature.