profit chart

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.

Related

Comino deckchair encroachments extended for another year without tender

April 17, 2024
by Robert Fenech

The deckchairs have been the subject of much controversy in recent years

Beware! APS Bank calls for more vigilance amid calls impersonating the bank

April 17, 2024
by Anthea Cachia

The bank states that it would never ask for passwords, full card numbers, myAPS PIN/codes or CVV numbers

Property more affordable today than it was in the ’80s,’ says leading architecture firm

April 16, 2024
by Robert Fenech

The valuation practice of DHI Periti based its argument on data going back 40 years