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Aircraft registrations in Malta were 94 in 2010. In three years they increased to 155. This rapid growth came thanks to government and private companies’ investment, as well as an appealing regulatory framework that the island is so renowned for.
Aspiring to reach the levels of Malta maritime industry, which to date retains the largest shipping register in Europe, the aim of the aviation industry in Malta is to attract more private and corporate jets from across the globe. In fact, Malta is already home to a number of renowned international firms, like Lufthansa and ST Technics, which offer everything from crew training to engineering services and communications.
What has made such firms settle in Malta?
The island’s accession to the EU in 2004 was certainly a turning point, but this was not the only reason. The enactment of the Aircraft Registration Act in 2010 also contributed to Malta’s competitiveness in attracting both private and corporate jets.
Today aviation accounts for 2.5% of Malta’s GDP and supports over 5,000 jobs. This growth is partly thanks to Malta’s effective legislation which allows for:
The regulator of aviation industries in Malta, Transport Malta, offers fees that are amongst the most attractive in Europe.
Furthermore, the regulator offers streamlined regulations that are in full compliance with the international safety standards set out by the European Aviation Safety Association (EASA).
In 2012, a new method of VAT assessment was introduced, whereby VAT becomes due only for the time an aircraft operates in the European Union.
A 0% VAT rate applies in respect to the supply, acquisition, importation, chartering, maintenance, servicing and provisioning of aircraft engaged in commercial operations.
In addition to this, one has to remember that the Malta Tax system remains one of the most competitive, with over 70 double tax agreements worldwide.
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