EU Remains Undecided on Legality of French VAT Exemption
In its most recently released package of infringment decisions the EU did not comment on the legality of French proposals for VAT exemption on charter contracts.
Yacht registration firm Oceanskies reports "Whilst the ongoing delay in the announcement of the EU Commission’s decision on the legality of French proposals continues uncertainty for the yacht charter market as to future VAT treatment of yacht charters it does, as the charter season commences, enable the performance of charters under the existing, although declared illegitimate, regime."
Moore Stephens Isle of Man partner Ayuk Ntuiabane spoke on the issue at our parent company's Superyacht Finance Forum last fall. His presentation and remarks are available here.
