In the last Budget it was announced that pensioners will not be taxed if they have earnings of up to €13,000. This sounded like good news as I have an overseas pension and I calculated I’ll save about €400.
I just received my provisional tax for 2017 and, to my surprise, not only my tax was not reduced but it was actually higher.
It seems the Budget announcement was deceiving and anyone getting more than the €13,000 pension is taxed the full amount above the old estimate and not on the amount above the €13,000.
It seems all of us receiving an overseas pension are treated like second-class citizens. While everyone else is being looked after we are being ignored.
We are contributing by bringing large amounts of money through our pensions, which money is being spent in Malta. But we continue being penalised.