Maltese companies with more than €1 million in profit jump by 14% in 2023

There were1,743 Malta-based companies that recorded over €1 million in profits in 2023, a considerable 14 per cent jump from the previous year. 

A parliamentary question answered by Finance Minister Clyde Caruana found that 2,960 Maltese companies recorded profits of over €100,000, while 824 enjoyed profits of over €500,000.

Overall this means that 5,527 companies enjoyed profits of over €100,00 in 2023.

This was a reply to an inquiry posed by the Opposition’s Shadow Minister for Economy and Enterprise, Jerome Caruana Cilia.

In the previous year (2022), 1,531 companies posted over €1 million in profits and a total of 5,044 companies enjoying profits over €100,000.

In 2022, Minister Caruana also stated that 70 per cent of all Maltese enterprises post tax statements showing that they broke even or registered a loss. Another PQ revealed that there are over 8,000 firms enjoying Malta’s low effective corporate tax rate of five per cent, while another 42,595 pay the standard 35 per cent rate.