- Reduced 12% VAT rate on yacht charters in Malta
- Effective for services chargeable for VAT on or after 1st January 2024
- Requirements to benefit from reduced rate:
- Charter agreement between lessor and lessee
- Total term of charter/s within 12 months does not exceed 35 days
- Lessee takes physical possession of yacht in Malta
- Guidelines provide examples for determining eligibility
- Guidelines accessible through provided link
Source: dfadvocates.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.
