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Reduced VAT Rate on the Hiring of Pleasure Yachts

MEDIA ROOM

October 9, 2023

By means of the Legal Notice 231 of 2023, amending the Eighth Schedule to the Malta Value Added Tax Act (Cap. 406 of the Laws of Malta), short term charters commencing in Malta will benefit from a reduced 12% VAT rate, subject to the fulfilment of certain criteria, with effect from the 1st of January, 2024.

About the Authors

This article has been authored by Dr Edward Meli, Assistant Manager - Maritime & Commercial, and Dr Luana Agius, Junior Regulated Industries Advisor.

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