EU yacht chartering VAT
It is important to be fully aware of the tax implications and rights for chartering yachts in EU waters. Due to the level of complexity regarding maritime and tax obligations for yacht owners it is advised that you seek the assistance of a professional consultancy firm that is experienced n the maritime related tax industry.
For more information on the VAT imposed on yacht chartering on EU waters, please Contact DeltaQuest.
VAT on yacht chartering explained
In order to charter a yacht in EU waters is taxable for VAT purposes due to the fact that chartering a yacht is considered a supply of services. Where the yacht owner is registered with an EU member state and performs yacht chartering services within or out with EU waters, the yacht owners is liable to register for VAT and must account to the relevant VAT authority.
VAT on yacht chartering is only applicable where the yacht owner is domiciled in an EU member states. Where the yacht owner is not established in an EU member state there will be no VAT requirement for chartering.
Due to the requirements and varying conditions according to the jurisdiction your yacht is registered in, the activity the yacht intends to engage in and where the yacht intends to offer their services, different tax implications and exemptions apply. It is therefore highly advised to obtain the relevant information regarding EU VAT on yacht chartering from a professional consultancy or qualified and experienced yacht broker to ensure you are compliant with relevant tax requirements.
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