- Legal Notice No. 231 was published in the Maltese Official Gazette on Oct. 6
- The notice introduces a 12 percent reduced VAT rate for specific services
- The reduced rate will be effective from Jan. 1, 2024
- The services included in the reduced rate are custody and management of securities, management of credit and credit guarantees, short-term hiring of a pleasure vessel, and specified health care profession services
- The reduced rate does not apply to exempt supplies.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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