In a recent report published by PricewaterhouseCoopers (PwC) for Transport Malta it has been revealed that, at the end of 2010, no less than 213 superyachts were registered under the Maltese flag.
These have generated around in excess of £200K in revenues and fees annually. It goes on to suggest that there is substantially more work generated for local surveyors, corporate services providers and specialist marine lawyers.
The accountancy firm estimates that the gross direct superyacht output in Malta during 2010, excluding tax receipts, stood at £27 a figure that could grow substantially even without additional capital investment.
Malta’s value added tax policies, make it tax-efficient to buy and import superyachts in the jurisdiction, and these policies are yielding a further £7 million a year.
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Accounting consultancy