The Maltese government has applied a lower VAT rate on yacht charters, to entice visitors and encourage more people to choose the Maltese Islands for Mediterranean Yacht Charters
Dubai, UAE – -:
Building on the success of last year’s event, Yachting Malta and VisitMalta are proud to announce their collaboration to spotlight The Maltese Islands at the Dubai International Boat Show 2024. The two entities will be promoting Malta as a premier yachting and boating destination for the Middle East yacht owners, Yacht lovers, and travel enthusiasts.
Taking place between February 28 and March 3, at the massive Dubai Harbour will host the 30th edition of DIBS, showcasing the artistry of the world’s premier boatbuilders, the excitement of watersports, and the allure of refined living.
VisitMalta will be exhibiting at the prestigious Dubai International Boat Show for the second consecutive year, accompanied by Yachting Malta; a public-private partnership between the Government of Malta and the Royal Malta Yacht Club.
Inviting visitors to come to Yachting Malta stand ref MLL-104 for first-hand knowledge about what Malta has to offer for yachting, sailing, divers and water sports enthusiasts.
Yachting Malta joining forces with the Super Yacht Industry Network Malta to showcase Malta as the ideal Yacht cruising destination and a hub for Refits, registrations and all ancillary services including Wintering, Hardstanding, Crew training and other services.
VisitMalta will also be present at the same stand to showcase the tourism attractions of the Maltese Islands of Malta, Comino and Gozo, especially as a sailing and diving destination that is coupled with history and culture, heritage sites and culinary experiences.
As a well-known yachting and boating destination for leisure and international sporting events, Malta also offers some of the best diving experiences in the Mediterranean Sea. It has diverse natural reefs and exceptional underwater caves and rock formations. Adding to the experience, the Maltese Islands are also known for their year-round good weather conditions, crystal-clear visibility and mild water temperatures.
As testimony to Malta’s scuba diving pedigree as leading Scuba diving destination in Europe and one of the best diving sites in the world, Malta earned second place in the ‘Top diver destination of the year 2018’ awards by one of the world’s longest-established diving websites; Divernet.
Finally, to entice visitors to visit Malta and to encourage more people to choose the Maltese Islands for Mediterranean Yacht Charters, the Maltese government has applied a lower VAT rate on yacht charters. This move aims to make the Maltese Islands a more appealing and prestigious destination for yacht charters in the Mediterranean.
The Ministry of Finance in Malta recently issued a legal notice to follow a specific part of a tax directive from the European Council. This notice, labeled L.N.231 of 2023, introduces a new lower tax rate for renting pleasure boats. If someone rents a pleasure boat for up to 5 weeks within a year, they only have to pay a 12% tax rate.
These rules apply to short-term rentals of pleasure boats within a year, even if the rental is broken into multiple parts, as long as it’s for the same boat and person. These rules start on January 1, 2024, and will affect all pleasure boat rentals from that date onward.
Malta offers a world-class diving experience, and stands out as a top choice for enthusiasts and adventurers alike. The recognition of Malta’s exceptional diving sites and the implementation of a lower VAT rate on yacht charters further solidify its position as a prestigious destination in the Mediterranean. Visitors are invited to explore the Yachting Malta stand at the show, where they can discover firsthand the rich heritage, natural beauty, and unparalleled experiences that await in the Maltese Islands.
