The Yachting Services Trade Section within the Malta Chamber of Commerce, Enterprise and Industry, the Malta Maritime Law Association, the Malta Maritime Forum and the Super Yacht Industry Network Malta have insisted that an infringement procedure opened by the European Commission in connection with the practice in Malta on Yacht leases is discriminatory.

“Malta Yacht lease structures have always been set up in line with EU laws,  based on practices tried and tested in other Member States as explained by  the Malta Guidelines,” the four entities said in a press release.

“The industry therefore questions why such a notice of alleged infringement is being sent at all.   Even more so when it is evident that  no similar notice was sent to Member States which apply the same principle under the VAT directive in an identical manner to Malta, such as France and Italy.  If no notice of infringement was sent to France and Italy why therefore is one being sent to Malta, Cyprus and Greece?

We appeal to and will fully support the Maltese Government to firmly contest this action by EU Commissioner Pierre Moscovici.”

The entities said the yachting industry is, as is the entire maritime  industry in Malta, an important one.

The yachting industry consists of the large domestic market and forms part of a larger EU yachting eco system which together contribute significantly  to the country’s and EU gross domestic product and have been supporting  a number of jobs for the past 15 years.

“It is vital that the EU authorities continue to recognise and encourage this contribution in line with the EU Maritime policy,” they said.