Malta has recently implemented changes to the Eighth Schedule of the Value Added Tax Act (Chapter 406 of the Laws of Malta), introducing a reduced VAT rate specifically applicable to the hiring of pleasure yachts. This modification, influenced by the adoption of Council Directive (EU) 2022/542 on April 5, 2022, marks a departure from the...
The introduction of the Companies Act (Shipping and Aviation Cell Companies) Regulations (the “Regulations”), has allowed companies in the shipping and aviation industry to create cell companies. Similarly, a company already engaged in such business may convert its structure into a cell company, provided that such change is authorised by the memorandum and articles of...
Matthew Cassar has recently represented the firm and participated in the Amsterdam Superyacht Forum held on the 18th to the 20th of November 2019. The Superyacht Group has been involved in delivering events through which they bridge professionals and brands in an environment which allows for debate and the collaboration of experienced and up and coming minds...
The European Commission has granted its conditional approval of the Maltese Tonnage Tax Scheme for a period of 10 years. The scheme was assessed under European Union State aid rules and it was found to ensure a level playing field between Maltese and other European Shipping Companies whilst also attracting ship registration towards Europe. The...
Anndrea Mercieca, from David Zahra & Associates Advocates, recently attended ‘The Yacht & Superyacht Symposium 2016?. The event was held on 9 June 2016 at the Westin Dragonara Resort and was organised by the Malta Institute of Management (“MIM”). The symposium focused on yachting within the European territories and the advantages introduced by various jurisdictions around...