The Maltese VAT department has launched a scheme whereby a Maltese company purchases a pleasure yacht and enters into a lease-sale agreement of the yacht with a third party. The aim of the scheme is to allow paying VAT on a yacht calculated on the percentage of the time that the yacht is deemed to sail in EU waters. This will also result in a VAT paid certificate at the termination of the scheme, thus allowing the yacht free movement within the EU.

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