Malta's Commissioner for Revenue has published Guidelines on the reduced VAT rate applicable to the hiring of pleasure boats. As previously reported, the Value Added Tax Act (Amendment of Eighth Schedule) Regulations 2023 extended the scope of the reduced VAT rate of 12% rate to the hiring of pleasure boats, among other things, with effect from 1 January 2024. The guidelines provide an interpretation of the rules for applying the 12% rate along with several examples. The guidelines also cover the application of the 12% rate when other supplies, subject to different VAT treatment, are included as part of a...