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Thibault Hermant, Group Operations Manager for SOS Yachting, was invited to speak about fiscal issues impacting the commercial yachting at the ECPY Symposium on April 18, 2017.
Thibault provided a short overview of the Italian Commercial Exemption (ICE) which came into force earlier this year in the context of EU wide operations. Starting with a brief explanation of why the ICE came into force, he explained how to comply, the outcome of non-compliance and how to handle compliance with ICE and FCE.
A number of questions still remain unanswered including how to measure a voyage, what proof of navigation will have to be provided and what documentation will be required by vendors, typically bunkering.
Thibault also gave a brief overview of the changes expected to come into force in Croatia on May 1, 2017.