Each year, Malt prepares an income summary. It lists the amounts you received through the platform and the information sent to your tax authority under the DAC7 directive. It does not replace your tax return.
- Download it from Invoices and payments, in the Income summary menu.
- The amounts sent to the tax authorities include VAT. They are not the base of your social-security contributions.
- A payment received after 1 January is not counted in the previous year.
Where to download it
- Open Invoices and payments.
- In the menu, choose Income summary.
- Select the Year declared. If several countries are offered, select your country of tax residence under Reporting country.
- Click Download.
At the start of each year, Malt emails you when your income summary is available.
If you have not yet been paid for a project, the page asks you to come back the following year, after your first projects.
What you will find
- Your details: name, address, legal structure, tax identification number, intra-community VAT number, bank account.
- For each quarter: the amount paid into your account and the amount of service fees charged by Malt.
- The number of transactions for each quarter.
The amounts cover payments for your projects, expense reports and business referrals. They are net of freelance service fees and include VAT if you invoiced it.
A payment received after 1 January is not counted in the previous year, even if the project took place that year.
How to read it for your tax return
The amounts Malt sends to the tax authorities include VAT: they include the VAT you invoiced on your projects. Malt service fees are also reported including VAT. This is not the base of your social-security contributions.
Your tax authority may prefill a gross income figure from this information. It adds the amounts paid into your account and Malt's fees.
That figure is often too high if you charge VAT. Remove the VAT invoiced on your projects: VAT collected is not taxable income. Your taxable gross income is the amount excluding VAT that you received during the year, before deducting Malt service fees.
If you are taxed on your actual expenses and you recover VAT, the Malt fee excluding VAT can in principle be deducted from your taxable income.
The income summary helps you prepare your return. It does not set your taxable income. Check the amounts with your adviser, against your own obligations.
What the income summary does not do
It does not exempt you from declaring your income. There is no threshold: from the first euro received on Malt, the amounts are reported if you are a tax resident of a European Union country.
The directive is explained in What is the DAC7 directive and who is affected?.