Cap. 123 Art. 27BTaxation of trusts.

(1) Where at least one of the trustees of a trust is a person resident in Malta, tax shall be payable on any income attributable to a trust accruing or deriving in the year immediately preceding the year of assessment commencing on such date as the Minister responsible for finance may, by notice in the Government Gazette, appoint and for each subsequent year.

(2) For the purposes of this article, "income attributable to a trust" means the aggregate of any relevant income referred to in article 4 which has accrued to or is derived by a trustee or trustees of a trust from property which was settled in such trust and from property which was acquired in the administration of such trust including any income from the employment of such property.