Over 5,000 people declared income above €120,000 in 2024: PQ

Over 5,000 people in Malta declared an income of more than €120,000 during 2024, according to information tabled in parliament. 

Replying to a parliamentar question by Jerome Caruana Cilia, Finance Minister Clyde Caruana stated in 2024, a total of 5,308 individuals declared an income exceeding €120,000.

The minister provided a detailed breakdown of income brackets above the €60,000 threshold. The Opposition MP asked for the number of individuals who declared income above €60,000 during 2024, divided into specific income brackets.

According to the finance minister, 14,399 individuals declared an income of more than €60,000 but less than €80,000, making this the largest group among higher earners.

Another 5,584 people reported earnings between €80,000 and €100,000. A further 2,900 individuals declared income between €100,000 and €120,000, representing those in the upper-middle income range.

When combined, the figures show that 28,191 individuals declared an income higher than €60,000 in 2024.