The Commissioner for Revenue has published an amended version of the guidelines regarding the VAT treatment of yacht and aircraft leasing. In terms of the amended guidelines, the manner in which the period that the boat/aircraft spends within the territorial waters/airspace of the EU is determined is no longer carried out by reference to the published table but shall be subject to approval by the Commissioner after that the rental company shows to his satisfaction that it cannot reasonably carry out a physical assessment of such time outside the EU due to reasons beyond its control. Each application submitted is examined on a case by case basis and has to be approved in writing by the Commissioner.
The amended guidelines regarding the vat treatment of yacht leasing can be found by clicking on the following link http://vat.gov.mt/en/VAT-Information/Guidelines-to-certain-VAT-procedures/Documents/Guidelines%20on%20VAT%20treatment%20of%20Yacht%20Leasing%20_1_.pdf
The amended guidelines regarding the vat treatment of aircradt leasing can be found by clicking on the following link http://vat.gov.mt/en/VAT-Information/Guidelines-to-certain-VAT-procedures/Documents/Aircraft%20Leasing%20Guide%20-%20Nov%202017.pdf.