VAT and the Maritime Industry

In this joint session, Dr. Stephan Piazza will address the maritime, legal and regulatory aspects of ship and yacht registration in Malta. His contribution covers the international and national maritime framework, flag considerations, registry requirements, and the broader operational and compliance environment within which the maritime sector functions.

Following Dr. Piazza’s intervention, Kenneth Cremona will focus on the VAT and indirect tax elements applicable to maritime and yachting activities. His section will analyse the VAT treatment of chartering, the application of the 12% rate on the hiring of pleasure boats, the use‑and‑enjoyment rules, importation and customs valuation procedures, and other indirect tax considerations relevant to owners, managers, operators, and service providers.

The Speakers

Kenneth Cremona graduated with a Master in Accountancy from the University of Malta in 2015. Kenneth joined RSM Malta in 2016, initially working on Income Tax Compliance dealing with clients established in multiple industries including Gaming, Immovable Property, Investments, Pharmaceuticals and Retail. During 2019, he specialised in VAT advisory and was promoted to a Supervisory role within the firm, and as an Assistant Manager in 2021. Kenneth is also a CPA warrant holder and received the Professional Certificate in Taxation issued by the Malta Institute of Taxation in 2017.

Dr Stephan Piazza is a maritime lawyer warranted to practice law in front of the Superior Courts of Malta. He has a decade long experience working in one of Malta’s leading law firms and Big Four.

Stephan has extensive experience in the maritime law space, having assisted several clients with ship and yacht registration procedures and accompanying corporate structures. Stephan has frequently contributed to a number of articles in both local and international journals.

He lectured ACCA students in the field of corporate law. Stephan also an Executive Committee Member of the Malta Maritime Law Association and Chairman of the Education Committee.

He has also published a number of articles in both local and international journals. He collaborates with the University of Malta and the Malta College of Arts Science and Technology as an external examiner.