PHOTO: Damian Brandon/FreeDigitalPhotos.net UPDATE, OCTOBER 18, 2013: The amendment to the law passed yesterday. Alex Chumillas Amat, managing director of the yachting division of Tax Marine Spain, explains, “This in practice means the opening of the Spanish yacht-charter market to anyone interested to operate in, avoiding the payment of matriculation tax….
PHOTO: ACM Photography/iStock The long-anticipated application of VAT to yacht charters originating in French waters goes into effect next month, on July 15. On June 25, the Direction de la Législation Fiscale (DLF), which is the French tax authority, informed the European Committee for Professional Yachting (ECPY), an industry organization founded…
PHOTO: iStock Due to confusion over whether megayachts would be required to pay an upcoming increase in Australia’s carbon tax, Superyacht Australia, which represents the megayacht industry in the country and promotes its nautical tourism, has obtained clarification from the Australia Tax Office. The good news is, visiting megayachts need not…
PHOTO: Flickr/Jonas Lamas Bransom Bean, treasurer of the International Superyacht Association and director of Moore Stephens Crew Benefits, recently visited Norway to inspect ports that could welcome more megayachts. The visit was just one part of an ongoing project driven by Norwegian businesspeople and politicians termed “Norway á la carte for…
Large yachts and megayachts will no longer need to pay import duty in Gibraltar, a move that megayacht-industry representatives and marinas alike are saying should help stimulate more visits. On Monday, Fabian Picardo, the chief minister of Gibraltar, presented his first budget, which included abolishing the import duty on yachts measuring 59 feet (18 meters)…
PHOTO: SALVATORE VUONO/FREEDIGITALPHOTOS.NET Italy isn’t the only country confusing yacht owners and their managers with its new approach to charging VAT on charter yachts. France has a new law that no longer exempts charter yachts from having to pay the duty. As you may recall, over the summer, Force Blue was seized on allegations of…
When Force Blue was seized in Italy over alleged tax evasion, many megayacht owners and their advisors sat up and took notice. It also led to questions and concerns, understandably, many of which persist. To shed some light onto Italian VAT practices, Moore Stephens prepared the following educational—and frank—overview for its clients, which Megayacht News…
Plenty of people enjoyed the recent Super Bowl in and around Miami on their own boats or on charter yachts. One particular couple with plenty of charter experience did something a little different: They hosted a corporate event that still provided personal fun. Thomas E. Hoshko, CEO and president of a company specializing in information…
I’ve been spending the past several days in Grenada, at the invitation of Camper & Nicholsons Marinas, to check out Port Louis. Port Louis is one of the newest properties that Camper & Nicholsons Marinas is overseeing. The marina recently completed the fifth of about seven stages of construction, which ultimately should see a total…
Yes, you read that headline right. You can charter in Vancouver, British Columbia, for the Olympic Games in February and March. The opportunity is aboard the 114-foot yacht Pacific Yellowfin, and she’ll be docked at Coal Harbour Marina, in downtown Vancouver. The word comes from Infinity Yacht Charters, whose principal, Michael Sawyer, is on the…
