In what circumstances can an owner of a Maltese-flagged pleasure yacht import their yacht into Malta and subsequently pay Value Added Tax (VAT) on that importation in Malta?
This article shall tackle this question and shall particularly focus on whether importations of pleasure yachts and VAT payments thereon, can be done by an entity established outside the customs territory of the Union. Of particular importance in understanding the rules applicable in this regard, are REGULATION (EU) No 952/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 9 October 2013 laying down the Union Customs Code (recast) (hereinafter referred to as the “Union Customs Code” or “UCC”) and COMMISSION DELEGATED REGULATION (EU) 2015/2446 of 28 July 2015 supplementing Regulation (EU) No 952/2013 (hereinafter referred to as the “UCC Delegated Regulation“).
Source Mondaq
