Taxation

In the following article, corporate advisory firm The Sovereign Group (which also serves as parent company for RegisterAYacht.com) outlines the often unclear distinctions between tax evasion and tax avoidance which yacht owners can find confusing.

Building upon eight percent fleet growth in 2012 and a recent promotion to the Paris and Tokyo MoU Grey Lists, the Belize registry is offering incentives to attract quality tonnage.

IMMARBE will offer a 25% discount to ships that experience no detentions within a calendar year and extend that discount to 35% to vessels that remain detention free for two or more years.

Sweden is reconsidering implementation of a tonnage tax after seeing its fleet flag out to other Scandinavian registries.

The Swedish fleet stands at a crossroads as it sees its numbers decline while Finland is experiencing an uptick in registrations. Fairplay reports:

Sweden’s flag fall swells Finnish coffers

Greece has announced plans to tax foreign-flagged ships that are nationally managed or owned for the first time as it seeks additional sources of revenue.

The Netherlands has agreed to inform Greek authorities about yachts anchored in its ports. The information exchange will allow Greece to more effectively levy taxes on yacht owners as it aims to strengthen its struggling economy.

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