Audit

The government of Malta has put in place a set of guidelines on the payment of VAT on leased Yachts. The regulations apply when a company registered in Malta buys a Yacht and decides to lease it to a third party. This system was put in place to help the owners of these luxury vessels to pay their VAT. The VAT payable is calculated from the proportion of time the yatch is supposed to navigate in the EU territory. It also enables them to acquire a certificate cleared of VAT arrears at end of the arrangement.

The government of Malta has been working diligently to improve international business with various states around the world. One of these nations is Ireland. Ireland’s participation in business with Malta has proved fruitful for both states. One of the most prominent cooperations between the two nations is the Malta-Ireland double taxation agreement. The goal of this agreement is to eliminate the double taxation of businesses operating in both countries. Due to the double tax system, a lot of foreign investors are finding interest in opening businesses in Malta.