More than 1,500 Maltese companies post profits over €1 million

There are 1,531 companies registered in Malta that posted over €1 million in profits in 2022, according to new information tabled in Parliament by the Minister for Finance and Employment.

Minister Clyde Caruana was responding to a parliamentary question (PQ) posed by the Opposition’s Shadow Minister for Economy and Enterprise, Jerome Caruana Cilia.

The response also reveals the number of companies registering between €500,000 and €1 million in profits during that year (745) and those posting profits between €100,000 and €499,999 (2,768).

All together, these amount to 5,044 companies enjoying profits over €100,000.

Earlier this month, 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.

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.