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Complex VAT Situation for Yachts

New EU VAT rules for yachts
The 2010 VAT rules require a different approach to the use of superyachts in European waters. The new rules concern commercial vessels: a category in which the majority of the luxury superyachts falls. These superyachts are now required to pay VAT over their chartering activities (<90 days) in the EU. VAT needs to be charged in the country of departure of each sailing trip.

VAT compliance mandatory for yacht owners & charter companies
Consequently, yacht owners and charter companies need to make sure they follow the specific VAT requirements of the country of departure. Non-compliance may have grave consequences, such as penalties, interests or even seizing the yachts.

Investigations by tax authorities & Customs
Investigations of yacht chartering by the European tax authorities are ongoing. For example, early 2011, tax authorities claimed nearly 90 million euros of VAT on yachts in the Mediterranean. Moreover in 2010, Formula 1's Flavio Briatore's yacht was impounded by Italian police for owing millions in taxes. Plus, later that year, in Luxembourg, the ECJ ruled that Bacino Charter Company was to pay VAT over their charter activities.

YVAT provides an easy-to-handle online solution for VAT compliance & yachts

Watch the YVAT demo movie, click here

Find out more about the YVAT portal, click here

Learn about the French VAT situation & yachts, read about the current developments or view our VAT matrix here
Find out more about Italian VAT & yachts, and have a look at our VAT matrix
Information on the situation in other EU countries is available on request

Read a detailed description of the VAT situation for yachts (for legal advisors), click here

Read about the mentioned ECJ case on chartering, click here