Amendments to the Guidelines regarding VAT treatment of Yacht Leasing

Amendments to the Guidelines regarding VAT treatment of Yacht Leasing
The Commissioner for Revenue has recently published an amended version of the Guidelines regarding the VAT treatment of Yacht Leasing in Malta. The most noticeable modification from the previous Guidelines relates to the determination of the use of the yacht within and outside EU territorial waters during the lease period. The previous Guidelines acknowledged the difficulty in trailing the movements of a pleasure yacht in order to determine the period the yacht spends within EU territorial waters, and therefore established the estimated percentage portion of the l...
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European Commission gives nod of approval to the Maltese Tonnage Tax Scheme

European Commission gives nod of approval to the Maltese Tonnage Tax Scheme
The European Commission has approved the revised Maltese tonnage tax scheme (exemption) under EU State rules for a period of 10 years, after an investigation and review lasting more than five years. The European Commission had initiated an in-depth investigation and review into the Maltese tonnage tax (exemption) scheme in 2012 to examine whether the scheme was compatible with EU State aid rules. The Commission had concerns that the favourable tax treatment allowed by the EU Guidelines on State aid to maritime transport for the transport of passengers and freight ...
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Chambers – Global Practice Guides for Shipping 2017

Chambers – Global Practice Guides for Shipping 2017
Nick Valenzia and Joseph Camilleri have contributed to this year's Chambers Law and Practice Guide – Shipping. This comprehensive guide covers all area of ship registration finance and provides interesting insight on traditional topics such as; various type of ship registrations (ownership, bareboat), ship mortgages and asset finance and liens. Valenzia and Camilleri further delve into and explore contemporaneous topics of interest such as access to capital markets and insolvency.Disclaimer This document does not purport to give legal, financial or tax advice. Sho...
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