The European Commission has now decided to bring action before the European Court of Justice (“ECJ”) concerning the VAT exemption applied by France to certain transactions involving vessels – commonly referred to in yachting circles as the French Commercial Exemption (“FCE”). In a press release from Brussels dated 29 September 2011, the Commission accuses France... ... read full story
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European Commission brings action against French VAT exemption for commercial vessels
October 11, 2011
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EU action on matriculation tax for +15m Charter yachts in Spain
July 28, 2011
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Lobbying actions across Spain have gathered pace during this last year, highlighting the ludicrous loss of revenue and negative affect on jobs created by the imposition of 12% matriculation tax on foreign owned charter yachts. Several of the meetings held with the yachting sector have been orchestrated in Mallorca by local tourism specialist Kate Mentink, who... ... read full story
Changes in French VAT Exemption for Commercial Vessels
January 18, 2011
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France has published a change in its VAT law and policy relating to commercial vessels. Published as Article 70 of Law No 2010-1658 of 29 December 2010 amending Article 262 of the unified French Tax Code, the Code Général des Impôts, the change now limits VAT exemption only to those commercial vessels operating on the high seas. ... read full story
France Commercial Yacht VAT Exemptions Challenged by EU
July 28, 2010
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The European Commission has now formally requested that the French change their VAT legislation which grants VAT exemption for some transactions involving superyachts potentially affecting commercial charters. ... read full story
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