ARTICLE · 07 DECEMBER 2020

A New Lease Of Life

Fenech & Fenech Advocates

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The closing of infringement proceedings against Malta on the 30th October 2020 by the European Commission with respect to the VAT Treatment of leasing of yachts...

MaltaReal Estate and Construction

Alison Vassallo

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The closing of infringement proceedings against Malta on the 30th October 2020 by the European Commission with respect to the VAT Treatment of leasing of yachts sealed the welcome conclusion of many months of negotiations and discussions between the Maltese authorities and the Commission. The widely applied previous Guidelines relating to Yacht Leasing were withdrawn by the Maltese authorities during the course of such discussions and were earlier this year replaced by revised Guidelines on the place of supply of the hiring of pleasure yachts.

These Guidelines represent a new landscape in the interpretation to be given to the principle of use and enjoyment as enshrined in the VAT Directive when applied to the use and enjoyment of yachts. Whereas for many years a considerable number of Member States including Italy, France and Malta applied this principle with reference to the presumed use of yachts within and outside EU waters based on their length, this year sees

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A New Lease Of Life

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