Taxing questions: Ezio Vannucci, from law firm Moores Rowland Partners, answers four key questions about VAT. The European Commission’s decision to target tax breaks offered in the Italian and Cypriot yacht industries raises key questions about the interpretation of VAT
Navigating murky waters: what lies behind the EU’s decision to curb tax breaks offered by the Italian and Cypriot yacht sectors? Perhaps the biggest surprise about the EU Commission’s decision to target tax breaks offered in the Italian and Cypriot
The EU has sent letters of formal notice to Cyprus, Greece and Malta alleging that they have not been charging the correct amount of Value-Added Tax (VAT) on yachts. All three countries offer leasing schemes. They now have two months
The past few years have seen numerous published articles talk about Malta being the number one EU destination for maritime excellence. Many of these articles concentrate on the niche area of what makes Malta advantageous for commercial and pleasure yachting,
Bordered by three continents and twenty two countries it is easy to understand why so many people choose to cruise around the Med’s hotspots. However, there is one thorny issue that I am sure everyone would agree can burst the
Dominion Marine discuss the recent changes to French Exemption for commercial yachts Following the 2013 ECJ ruling against France and the French Exemption for commercial yachts, the French Authorities have produced new regulations BOFIP 1205-15. These regulations set out the
Ken Griggs and Simon Roberts from Dominion Marine discuss the “VAT minefield” in Europe and the implications this will have on the superyacht industry. The pressure is mounting in the European Union for all member states to reduce their budget deficits.
Quentin Bargate and Adam Ramlugon, Bargate Murray, look at the impact of the new Russian CFC Rules on the superyacht industry. For some time now, the Russian authorities have expressed concerns over the use of offshore structures by Russian corporations
