Malta has published the Merchant Shipping (Taxation and Other Matters Relating to Shipping Organisations) Regulations 2018, which update and replace the prior tonnage tax regime regulations in order to comply with EU State aid rules. Where the tonnage tax regime applies, and the required annual tonnage taxes have been paid by a shipping organisation:
- No further tax under the Income Tax Act will be charged or payable on the income of that shipping organisation to the extent that such income …