Following the change in the “place of supply rules” EU regulations provide that VAT must be paid in the country where a non-resident trader provides its services. As non-resident traders, both EU and non-EU yacht owning companies need to appoint a fiscal representative or fiscal agent to represent them in the EU country where they do business.
SOS Yachting guides you through the fiscal representations process, managing all filing obligations and compliances with tax authorities and providing operational and fiscal guidance to the owning company, captain and stakeholders.
In addition to case-by-case guidance on charter operations, SOS Yachting provides the following administrative services:
• Completing application for VAT registration of Owning Company with the local tax office
• Providing fiscal representation/agency to Owning Company
• Ensuring the Owning Company is fully compliant with rules on invoicing and VAT treatment
• Generating invoices
• Maintaining accounting records to meet local standards within the established timeframe
• Ensuring accounting records are readily available for inspection by the tax authorities
• Preparing and submitting all VAT and associated filings