How do I convert my Malta contractor day rate into an annual salary figure?

Multiply your day rate by your expected billable days for the year (based on Malta's standard working-day calendar), then compare the result against an equivalent Class 1 employee salary that would produce the same net income after Class 2 SSC (15%, capped at €29,083.36) versus Class 1 SSC (10% employee-side, capped at €29,084.12).

What annual salary is equivalent to my Malta day rate?

This calculator annualises your day rate using Malta's actual working-day count, then runs both the Class 2 self-occupied computation and the Class 1 employee computation against the 2026 income tax bands so you can see the salary figure each status would need to match your day-rate income net of tax and SSC.

Should I use Class 1 or Class 2 SSC to convert my day rate to a salary?

Use whichever status you actually intend to operate under: if you'd be taking a permanent job, use the Class 1 (employee) toggle; if you'd remain self-occupied under a different arrangement, use Class 2. The calculator lets you compare both from the same day-rate input.

Day Rate to Salary Calculator

Reverse-convert a contractor day rate into an equivalent gross and net annual salary, using Malta's working-day calendar and a Class 1 vs Class 2 toggle.

Day / hourly rate

€

Billable units per year

number of billable days (or hours) worked per year

Equivalent permanent salary

€125,398

Net annual income€88,000

Income tax€34,489

Social Security Contributions — Class 1 (Employee)€2,908

Social Security Contributions — Class 1 (Employer)€2,908

Total deductions€37,398

Effective tax rate29.8%

Converting a Malta Day Rate into an Equivalent Salary

Going the other way — from a contracting day rate to an equivalent annual salary — needs the same two adjustments as the salary-to-day-rate conversion: Malta's real working-day calendar, and the difference between Class 2 SSC (self-occupied, 15%) and Class 1 SSC (employee, 10% + a separate 10% employer share) on the same underlying income.

How to use this calculator

Enter your day rate and expected billable days per year
The calculator multiplies these into an annualised gross contracting income, using Malta's standard working-day calendar
Toggle between Class 1 (employee) and Class 2 (self-occupied) SSC treatment to see the equivalent gross and net salary under each status