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Amendments to the Guidelines regarding VAT treatment of Yacht Leasing Shipping, Yachting and Transport

Amendments to the Guidelines regarding VAT treatment of Yacht Leasing

The Commissioner for Revenue has recently published an amended version of the Guidelines regarding the VAT treatment of Yacht Leasing in Malta. The most noticeable modification from the previous Guidelines relates to the determination of the use of the yacht within and outside EU territorial waters during the lease period. The previous Guidelines acknowledged the difficulty in trailing the movements of a pleasure yacht in order to determine the period the yacht spends within EU territorial waters, and therefore established the estimated percentage portion of the lease spent within EU territorial waters on the length of the yacht and means…
MamoTCV
9th March 2018
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Amendments to the Guidelines regarding VAT treatment of Yacht Leasing Shipping, Yachting and Transport

Amendments to the Guidelines regarding VAT treatment of Yacht Leasing

The Commissioner for Revenue has recently published an amended version of the Guidelines regarding the VAT treatment of Yacht Leasing in Malta. The most noticeable modification from the previous Guidelines relates to the determination of the use of the yacht within and outside EU territorial waters during the lease period. The previous Guidelines acknowledged the difficulty in trailing the movements of a pleasure yacht in order to determine the period the yacht spends within EU territorial waters, and therefore established the estimated percentage portion of the lease spent within EU territorial waters on the length of the yacht and means…
MamoTCV
9th March 2018
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European Commission gives nod of approval to the Maltese Tonnage Tax Scheme Shipping, Yachting and Transport

European Commission gives nod of approval to the Maltese Tonnage Tax Scheme

The European Commission has approved the revised Maltese tonnage tax scheme (exemption) under EU State rules for a period of 10 years, after an investigation and review lasting more than five years. The European Commission had initiated an in-depth investigation and review into the Maltese tonnage tax (exemption) scheme in 2012 to examine whether the scheme was compatible with EU State aid rules. The Commission had concerns that the favourable tax treatment allowed by the EU Guidelines on State aid to maritime transport for the transport of passengers and freight by sea may have been extended to other categories of…
MamoTCV
16th February 2018
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Cryptocurrencies in Malta – A Legal Perspective Telecoms, Media & Technology

Cryptocurrencies in Malta – A Legal Perspective

Explaining CryptocurrenciesCryptocurrencies (also referred to as virtual currencies) are a form of digital currency which utilise encryption techniques for security. The same cryptography techniques are used in order to verify transactions involving virtual coins, and further coins are generated using complex mathematical algorithms in a process termed 'mining'. These digital instruments are increasingly being used to pay for goods and services, and such transactions are facilitated via the blockchain platform; peer-to-peer technology which ensures transparency and accountability. At present, the most traded cryptocurrencies are Bitcoin and Ethereum, however a host of other coins are also in circulation.Cryptocurrency vs Traditional CurrencyVirtual currencies…
MamoTCV
27th November 2017
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Blockchain Technology & the Law: Myriad Business Opportunities Telecoms, Media & Technology

Blockchain Technology & the Law: Myriad Business Opportunities

What is Blockchain? Blockchain can be described as a digital database or ledger which is shared between a network of computers. The premise of blockchain, as well as its distinctive feature, is that it works on distributed trustless consensus. Each transaction entered into the ledger (known as a block) is connected to the block before it and the block after it, creating a chain of transactions which is traceable back to the original transaction. In turn, each computer (known as a node) connected to the network has a copy of all the information stored in this database. The data is continuously…
MamoTCV
13th October 2017
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The Key Employee Initiative Immigration

The Key Employee Initiative

This article was written by Dr. Christian Tonna and Dr. Stephanie Abela Medici.Identity Malta Agency has recently launched the Key Employee Initiative (KEI) offering a fast-tracked procedure for highly specialised non-EU nationals who intend to work in Malta. The KEI enables interested applicants to submit their application from abroad or while in Malta. The KEI affords successful applicants a joint residence and work permit within five (5) working days from the date of submission of the application.Eligible CriteriaThe initiative targets individuals who hold a managerial or highly-technical post having corresponding qualifications or relevant work experience. Individuals of start-up projects, endorsed…
MamoTCV
3rd April 2017