Guidance Note on the Importation of Bank Notes (CN 49070030)

UPDATE – Borg Galea & Associates would like to inform our clients that, by default, the VAT rate for the importation of bank notes that are classified under CN code 49070030 is 5%.

However, where the importation of bank notes constitutes a financial transaction concerning banknotes in circulation used as legal tender, exemption from import VAT would apply.

For more information, kindly contact us on: +356 27037012

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