Malta’s significance within the maritime transport industry has duly been noted this past decade, where through various efforts, Malta has been named the EU’s largest shipping registry and the sixth largest globally. Malta’s success in this industry has been attributed to its adherence to international standards, its relatively easy registration procedure as well as its beneficial tax scheme. After 5 years of discussion with the European Commission, Malta will finally be introducing a Tonnage Tax Scheme as of 1st April which will further bring about success within the maritime sphere. This incentive aims at strengthening our tonnage tax principles whilst also promoting the registration of ships in Malta and Europe. It has also been determined that such measures are in line with the EU State Aid Guidelines and will be applicable over the coming 10 years.
