Malta Yacht VAT Leasing Rates
The new VAT is calculated as follows:
Firstly, calculate the Preliminary Ratio = (Total Use Inside EU Waters) / (Total Use Inside & Outside EU Waters)
Secondly, calculate the actual VAT payment = (Malta Standard VAT Rate) X (Value of Yacht)
Finally, calculate the new rate = Preliminary Ratio X VAT payment
Here is an example to illustrate the above point.
Let’s say that you spend 182 days in Malta and 183 days in Miami. That makes the Preliminary Ratio 0.4986.
Superyacht Value = €75 million
VAT in Malta = 18%
Actual VAT payment = €13.5 million
€13.5 million X 0.4986
Therefore, the new rate of VAT is €6.73 million.
If you would like more information about the relevant stages and what you need to be more tax effective, kindly enquire below or call us directly on +356 2122 7553.