Conditions precedent:
VAT:
Tax-free fuel:
Practical Advises:
Conditions precedent:
· The Operator must be VAT- registered in France;
· The applicable standard rate is 20% for charter parties for private use starting in France. The rate is reduced under the strict condition that the voyage includes per guest list a visit of the high sea outside the 12 miles zone;
· VAT-exemption only applies to charter-parties for professional use;
· If running under the VAT-exemption statute, the condition precedent to any charter stays the application to the FCE-rules;
· There is none French VAT to be paid for charter-parties starting from other EU-member states.
Alternative: Maritime Cruise Agreement
· Applicable VAT rate 10%
· Fixed cruise itinerary and fixed guest list
Tax- free fuel:
· VAT exemption available under the respect of the condition that over the civil year 70% of the voyage goes outside of the 12 miles zone.
Conditions precedent:
VAT:
Tax-free fuel:
Practical Advise:
To avoid the pitalls of the complex Greek system , do no charter parties starting from Greece
NEW RULES APPLICABLE UPON 1ST APRIL 2020
Conditions precedent:
· Yacht registered under a EU-flag with the authorization by the Flag-State to be chartered, or if non-EU-flagged the yacht must have been EU-imported;
· The Operator must be VAT- registered in Italy;
VAT:
· The VAT rate is 22% on ALL charter starting in Italy or coming in from outside EU;
· The Owning Company may not charge Italian Vat on the portion of effective use (the time or the miles) spent in international waters.
· There is none Italian VAT to be paid or charter-parties starting from other EU-member states.
Tax-free fuel:
· Available against current charter agreement and under respect to the condition that over the civil year 70% of the voyage of the yacht goes outside of the 12 miIes zone.
Conditions precedent:
VAT:
Tax-free fuel: