A new income tax rate of 7.5% for artists will be introduced from basis year 2022,  Finance Minister Clyde Caruana announced in the budget speech on Monday. 

He said that the government was introducing a package of measures to support and encourage artists, producers and promoters in the field of art and culture.

Fout the purposes of income tax, a mechanism will be introduced to establish the income of artists over an average of three years.

A €1 million guarantee fund will be set up for artistic events so that producers and promoters can recover their costs when unexpected restrictions are introduced. A further €2 million are being set aside to be used when seats cannot be sold because of restrictions.

The Malta Arts Council will also get €2 million to assist artistic projects.