The MIT Tax & Industry Series are not eligible for the MIT Membership Offer.
The purpose of this session is to provide a general overview on the income tax options available to the yachting and shipping companies, with a particular emphasis on the tonnage tax regime, both from a theoretical and practical point of view.
When
Tuesday, 09 July 2024
Time
10.00 - 12.00
Venue
Online
Speakers
William Cassar
Maria Kristina Cauchi
Maria Kristina Cauchi
Income tax considerations applicable to the yachting and shipping industry
The below session is part of MIT Tax & Industry Series: Yachting and Shipping which commenced on 3rd July 2024.
This session shall endeavour to cover inter alia the following topics:
- General overview of the income tax options available to the yachting and shipping companies.
- Extensive overview of the tonnage tax regime, both from a theoretical and practical point of view.
- Outlining the differences, and the potential benefits, between the normal tax regime versus the tonnage tax regime.
- Discussing the taxation of Advanced Provisional Allowance (APA)
- Taxation of seafarers
Learning Outcomes:
- Understand the income tax options available to yachting and shipping companies
- Understand the types of ships, organisations, and activities are eligible for the tonnage tax regime
- Understand the income tax implications of seafarers
Level: BEGINNER/INTERMEDIATE
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2 CPE Core Hours
William Cassar
William Cassar is a senior manager and the head of tax at Fenlex Corporate Services. He has graduated with a Bachelor of Commerce degree, followed by a Masters in Accountancy degree from the University of Malta. Shortly after, he joined one of the Big 4 firms where he gained valuable expertise in the realm of direct tax. William furthered his education by successfully completing the Professional Certificate in Taxation
from the Malta Institute of Taxation (MIT). Throughout his professional career, William has worked on a variety of engagements; from assisting individual clients on their personal tax affairs, to advising small and large enterprises on tax matters.
William is a Certified Public Accountant and a member of the MIT, the Malta Institute of Accountants (MIA), and the Institute of Financial Service Practitioners (IFSP). William also sits on the Domestic & Compliance sub-committee at the MIT, and on the tax subcommittee of the Malta Maritime Law Association (MMLA).
Maria Kristina Cauchi
Maria Kristina Cauchi is a Supervisor within the Tax Compliance Department at Fenlex Corporate Services.
Maria Kristina joined one of the Big 4 firms between 2015 and 2022 after enrolling in the PwC ACCA Programme. In 2019, she successfully graduated and became a member of the Association of Chartered Certified Accountants. During 2021, she signed up for the Professional Award in Taxation provided by the Malta Institute of Taxation and graduated in 2022.
Her main area of practice is taxation and related matters at a corporate level, both on local and international tax fronts. She assists local and international clients operating in diverse industries in both compliance and tax advisory matters.
Maria Kristina is a Certified Public Accountant, member of the Association of Chartered Certified Accountants, Malta Institute of Accountants and the Malta Institute of Taxation. Maria Kristina also sits on the Young Members Group Committee at the Malta Institute of Accountants.