and regulatory intelligence
VAT compliances for commercial yachts operating in the EU can represent a huge regulatory hurdle. Add a foreign language, administrative compliances, a busy charter season and the difficulties seem insurmountable!
It’s all easier than it seems.
Alongside fiscal agency and fiscal representation services, SOS Yachting provides operational guidance for commercial yachts and fiscal expertise from key yachting hubs in Croatia, France and Monaco, Italy and Spain. Our knowledge of charter operations, EU and maritime regulations gives us a unique perspective. Our fleet of over 600 clients is proof of our commitment.
SOS Yachting is the top-ranking company in our sector. Since 2012 we have been working closely with our clients to provide customized services and answers in real time. Our know-how ensures you are always up to date with regulatory compliances and can rely on solid backing in case of inspection.
1. The yacht has to be in free circulation in Europe (VAT paid, VAT accounted for or imported)
2. The owning company needs a VAT number in place
3. The yacht has to be commercially registered or engaged in trade
On May 27th, 2019 the General Directorate of Merchant Marine signed Service Instruction number 7/2019 allowing commercial 'passenger yachts’ (able to accommodate more than 12 guests) be used in Spain for recreational purposes, such as charter activity.
SOS Yachting is pleased to participate and give its support to the international non-for profit organization Young Professionals in Yachting (YPY) dedicated to members under 40 working within the yachting industry for their inaugural event in Split, Croatia between 27th - 30th of June.
From long, the Spanish National Yachting Association (ANEN) have been complaining on the abundant criteria disparities among the different harbor master offices in order to issue their clearance (misnamed ‘charter license’) for yachts to authorized for charter in Spain, especially foreign flagged yachts.
The Italian Customs Authority recently confirmed the procedures relate to art. no. 212 of the Delegated EU Regulation n.2446/2015 (RD) referring to the "Conditions for guaranteeing the total exemption from duties of the importation of means of transport".
Our Spanish tax advisor, Miguel Ángel Serra, partner at Albors Galiano Portales and legal and tax advisor to the Spanish Association of Nautical Companies (ANEN), announce last March 14, 2019 in the VII ANEN National Congress held in Palma, the intention of ANEN, together with the Spanish Large Yachts Association (AEGY), to file a complaint before the European Commission in relation to the Spanish matriculation tax.
SOS Yachting are pleased to announce the breakfast conference:
“Chartering in the Med: the latest Fiscal and Customs news”, an event within the official program of the MYBA Charter show.
SOS Yachting will be present during the MYBA Charter Show as previous years. From April 30th until May 3rd you will find us at the stand 73. Meet all our operations managers from our four offices available to organise meetings with you and your team throughout the show.
SOS Yachting will also this year participate to the 7th edition of the Palma Superyacht Show from 27th of April to 1st of May. You will find us at stand #SY26 in the Varadero Area.
The fourth edition of the Smartbook will be launched during the MYBA Charter Show in Barcelona between the 30th of April – 3rd of May. Please pop by our stand to pick up your copy.