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
