Accelerated tax depreciation for aircrafts

By means of Legal Notice 322 of 2018, the Government of Malta has announced that the number of years over which the following assets may be depreciated has been reduced from 6 years to 4 years.

Aircraft airframes, aircraft engines, aircraft engines or aircraft overhaul and aircraft interiors and other parts.

This will certainly provide aircraft operators with an added tax benefit as such assets will be depreciated over a shorter period of time.