Dr Jan Rossi provided an overview of Legal Notice 128 of 2018 that was introduced with the aim of attracting ship managers to set up in Malta.

 

Ship management activities are now included in the tonnage tax system. Effectively, this means that, going forward, ship managers are permitted to pay a ‘tonnage tax’ which is equivalent to a percentage of the tonnage tax paid by the owners and/or charterers of the ships managed and this to the exclusion of the standard corporate tax levied under the Income Tax Act (Cap 123 Laws of Malta)“.]