The importance of legal contract negotiation : the case of the French-Australian submarine crisis
In September 2021, against all expectations, Australia cancelled its order for 12 conventional (non-nuclear) submarines from France, more precisely from Naval Group. To date, Australia estimates that it will have to pay the sum of 3.7 billion euros to reimburse, among...
Racing boats – 10 things to know !
For many years, Stream has been supporting the ocean racing industry, including racing teams, at every stage of their project. From our experience, we know that it is important, from the very first steps, to structure your approach and to take action methodically by...
Generalisation of the reverse charge of VAT on imports from 1 January 2022
Until 31 December 2021, import VAT was paid by businesses to the Directorate-General for Customs and Indirect Taxation (DGDDI) and then deducted by the importing business on its turnover declaration to the Directorate-General for Public Finances (DGFiP). However,...
Good news for owners of US-built yachts on 1 January 2022
In May 2021, the tense trade relations between the US and the EU eased and the European Commission issued an implementing regulation n°2021/866, suspending the implementation of additional ad valorem duties on imports of certain US products. These duties had been put...
Autonomous Vessels come to the yachting market : 3 MAY POINTS TO KEEP IN MIND !
You may have a toy or tender that is being commanded from far. Rules applicable on autonomous vessels may be applicable ! On 21st October 2021, new French rules have been enacted on those as autonomous vessels were not taken into account until recently. 1.What is an...
BREXIT : Two important updates from the EU Commission on means of transport
In a note dated 8 July 2021 from the Directorate of Taxation and Customs (DG TAXUD), the European Commission responds to some of the questions raised by the end of the "Brexit" transition period on 31 December 2020. This note provides examples that can assist with a...
New EU regulation applicable from 1 June 2021 : A path to the end of the commercial war between US and EU?
According to the EU Commission Implementing Regulation 2018/886 dated 20 June 2018, certain goods with a US origin were subject to additional customs duties upon importation in the EU. According to this regulation, two sets of measures were intended to take place:...
MYBA Tax & Law webinar, April 2021
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...
