According to the Prefectural Decree N° 037/2020 - NAVIGATION OF VESSELS AND MARITIME ACTIVITIES IN FRENCH INLAND WATERS AND TERRITORIAL WATERS IN THE MEDITERRANEAN TO FACE THE 2019 CORONAVIRUS EPIDEMIC (COVID-19) – with some exceptions, all non-essential navigation and maritime activities are suspended until further notice.
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Italy and France (together with Malta and Cyprus) received in 2018 a letter of infringement by the European Commission on the subject of VAT on yacht rental/chartering based on the crucial point of the effective use of the yacht outside the Union territorial waters for the correct application of VAT
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On January 29th, the French Tax Authorities published in the Official Tax Bulletin that the VAT lump sum reduction will be replaced with an effective reduction in proportion of the time spent outside European waters.
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All seafarers and crew members of yachts currently based in Italy, will be able to enter and move around the Italian
territory only for the mandatory reasons indicated by the Prime Ministerial Decrees of March 8th and the following issued on March 22nd
Despite the Covid-19, SOS Yachting team is fully operative and available to give you support and guidance. All our offices are currently working from home until we get further notice from our Governments.
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The fifth edition of our Smartbook is almost ready.
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SOS Yachting Italy will participate to the training day of Hill Robinson on the 5th of February in La Spezia, Italy.
Our Operation manager from our Italian office Sara Ammannati will be on the panel giving an overview of the general requirements for Chartering in the EU and VAT on charter in Italy and new regulations in force.
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On the 29th of January, the European Parliament gathered in plenary session in Brussels, where they voted and ratified the text of the United Kingdom's withdrawal agreement from the European Union.
It was the last step that was still missing to formalize the agreement, on the text that was approved on October 17th, 2019 by the European Council (with the Political Declaration on the framework for future relations) and on January 9th 2020 by the British Parliament’s House of Commons, to then be ratified on January 22nd 2020 by the Upper House of the United Kingdom and countersigned on January 24th 2020 by Queen Elizabeth II.
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To apply the article 59 bis of the EU Directive 2006/112/CE, November 28th 2006, related to VAT, it has been decided that the French VAT lump sum reduction of 50% of the taxable base in case of cruising into international waters, due on charter contracts starting from France, must no longer be applied.
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The Italian Budget Law for 2020 (Law no. 160 of December 27th, 2019) published on the Italian Official Gazette (GAZZETTA UFFICIALE) on December 30th 2019, changes the provision of the application of the Italian VAT due on short term charters with departure from the Italian territory.
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The “D.D.L di Bilancio 2020“ (the Italian Finance Act 2020) approved by the “Senato“ and transmitted to the “Camera“ provides a new rule related to the place of taxation for VAT purposes of short-term charter of pleasure boats.
Changes may occur very soon in Europe concerning the current reduced VAT lump sum taxable base on charter contracts.
The EU Commission’s goal is to harmonize rules abolishing the laws currently in place in Italy, France, Malta and Cyprus for the reduction of VAT on the taxable base for charter contracts and apply the general criteria contained in articles 56 and 59a of the EU VAT Directive 2006/112/CE.
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Each November, SOS YACHTING hosts their annual company meeting, a milestone on the growing of our group, to make a point on the season that just ended and making plans for the next one in order to be able to provide more satisfying support to our clients.
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The SOS YACHTING team represented by the operations managers of the Spanish and of the Croatian offices – Alessia Manfredi and Sanja Dujmic - will attend to the Antigua Charter Show from 4th to 9th December.
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SOS Yachting will be in attendance to the 60th edition of FLIBS this year and we are looking forward to meet our American clients, stakeholders and friends.
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SOS Yachting team from Croatia, France, Italy and Spain will be in attendance at the Monaco Yacht Show. If you are there and would like to meet us and talk about VAT representation and tax please contact us on team@sosyachting.com.
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