Freddy Desplanques, partner and head of our Yachting Department has been invited as MYBA’s tax and customs expert for France, with a panel of other experts from different European jurisdictions to the recent Tax and Law Webinar organized by the MYBA, the worldwide yachting association.
More than 100 attendees were present, and our expert had the pleasure to discuss the following hot topics: the impact of the Brexit on the yachting industry, the ever evolving issue of VAT and the effect of COVID-19 on yachting European countries.
Specific questions on tax and customs implications of Brexit were considered such as the consequence of the Brexit for UK flagged yachts, UK owning companies and for yachts’ situation, depending on their location (e.g. in Europe before Brexit, in the United-Kingdom wishing to sail to Europe waters or in third party countries).
Our expert provided VAT updates, in particular regarding the recent changes on the VAT treatment on charters in Spain, Italy and France, and last changes of interpretation of the FCE requirements.
Practical recommendations were also made in relation to France, Italy, Croatia, Spain and Greece, in order to assist owners, crew, brokers and managers to be ready for the coming summer charter season.
To learn more about Stream’s expertise in tax and custom treatment of yachts, please visit our website on https://stream.law/en/yachting-law/ and/or contact Freddy Desplanques, head of the Yachting Department of Stream, to the following email address: freddy.desplanques@stream.law.
