Annual Return of Shipping Organisations Benefitting from the Tonnage Tax Regime
Shipping organisations whose activities fall under the Merchant Shipping (Taxation and Other Matters Relating to Shipping Organisations) Regulations, and which have no income whatsoever, or which have no income other than income from shipping activities, shall submit a return to the Commissioner for Revenue as per Annex 1. Furthermore, a declaration shall be submitted to Merchant Shipping Directorate as per Annex 2.
Both declarations shall be submitted at the same time to the two authorities.
Declarations in terms of Annex 1 of this Notice shall be submitted in electronic format to the Commissioner for Revenue by the applicable deadline, in lieu of the Full Income Tax Return. Declarations in terms of Annex 2 shall be submitted to the Merchant Shipping Directorate by the same deadline in electronic format to email@example.com. This will enable the directorate to renew the yearly tonnage tax exemption for the following year.
The full text of the Merchant Shipping (Taxation and Other Matters Relating to Shipping Organisations) Regulations may be downloaded from the following link.
Read the complete Merchant Shipping Notice 150.
For more information please send an email to firstname.lastname@example.org.
© 2021 KPMG, a Malta civil partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.