The shipping team at GANADO have reviewed a draft law that is expected to come into force on the 1 April 2018 which will ensure that Malta’s Tonnage Tax Rules fully comply with EU State Aid Guidelines.
The new law follows the EU Commission’s decision issued last December which included a number of recommendations to Malta’s tonnage tax legislation. Following 5 years of negotiations and discussions with DG Competition, the Maltese jurisdiction will now be satisfied that its Tonnage Tax Rules are now endorsed by the DG Competition for the next 10 years and that Malta’s Tonnage Tax offers new and exciting opportunities which were not previously available. A legal brief on this matter will be prepared and published once the law is enacted.
For further information on this topic kindly contact the shipping team at GANADO Advocates.