KPMG in Malta Organise Yacht Leasing Masterclass - KPMG Malta
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KPMG in Malta and KPMG Learning Academy Organise Yacht Leasing Masterclass

KPMG in Malta Organise Yacht Leasing Masterclass

KPMG Malta and KPMG Learning Academy organises Yacht-Leasing Masterclass on the implementation of the VAT Guidelines of Long Term Chartering of Yachts.

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Stephan Piazza

Manager, Transport- Shipping and Aviation

KPMG in Malta

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The Shipping Industry is one of the main pillars of the Maltese economy and as part of our commitment towards such sector KPMG in Malta teamed up with the KPMG Learning Academy Malta, organising a special edition of the Yachting Masterclass on 14th March, 2019.

On the 28th February, the Maltese VAT Department announced the long anticipated changes regarding the hiring of pleasure yachts in Malta.
The workshop seminar analysed the impact of such changes on owners and service providers highlighting novelties introduced and analysing practical scenarios from a VAT perspective.

Graziella Demanuele Bianco, Tax Knowledge Manager provided practical accounting and VAT insights into the recently published VAT Guidelines on the hiring of pleasure yachts in Malta as released by the Maltese VAT Department.

In particular the following points amongst others were discussed:

  • Use & Enjoyment Criteria;
  • Calculation of VAT on Charter Rates;
  • VAT Compliance Requirements;
  • New Administrative Obligations; and
  • The possibilities for obtaining a VAT Paid Certificate.

The Workshop also delved into practical examples based on different leasing scenarios.

We would like to thank all those who attended the event! Should you require further information kindly contact our yachting manager Stephan Piazza on stephanpiazza@kpmg.com.mt.

KPMG in Malta and KPMG Learning Academy Organise Yacht Leasing Masterclass
Yacht Leasing Masterclass

© 2019 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.

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