sail-world.com
 
 
News Home Cruising Australia Cruising USA Cruising Canada Boats for Sale Sail-World Racing Photo Gallery FishingBoating
Photo Gallery FishingBoating Video Gallery Newsletters
Sail-World.com : The complex issue of VAT and yachts - a solution offered
The complex issue of VAT and yachts - a solution offered


'VAT on yachts in the Med, a vexed question'    .

The changing situation of VAT in Europe and adjacent countries has made it difficult for yacht owners to make decisions about where to keep their yachts and how to use them as prudently as possible - particularly if that yacht is a sizable investment.

The combination of two names in the tax-free haven world - Isle of Man and Monaco - have come together with a solution. This is the offer, in the words of Isle of Man based Dominion Marine, who have been providing robust yacht and superyacht ownership solutions since 1984.

We closely monitor changes to VAT and marine legislation to make sure we are providing the best and most cost-effective ownership structures for our clients.

Due to new VAT legislation, the ratification of the Maritime Labour Convention (MLC) and stricter requirements for commercial registration, we have developed a new and unique VAT deferment structure. This is delivered by Dominion Marine SARL, incorporated and VAT registered in the Principality of Monaco.

How does this new solution work?
Under this new rental structure, owners defer the payment of VAT on the acquisition of the yacht, and only pay VAT on its depreciation (in accordance with European Court judgements).

The structure is ideal for pleasure yacht ownership and is based on a 5 year bare boat rental contract. The client can choose to pay VAT either:

1. at the applicable rate on the hire fee (currently 9.8%), or
2. on the hire fee at the full rate of 19.6% and zero rate the VAT for periods outside EU waters.

At the end of the 5 year contract the client has the option to enter into a new rental period, based on the residual value of the yacht at that time. Should the client decide to sell the yacht, there are no penalties and all options relating to the tax on the yacht remain open.

As a bare boat rental, all expenses relating to the running of the yacht are the responsibility of the renter, along with crew recruitment and interior decoration.

For more information, go to the newly set up Dominion Marine SARL.


by Lee Mylchreest

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=113028

8:52 PM Fri 9 Aug 2013GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.







Sail-World Cruising News - local and the World



The Galley Guys take on the Vancouver International Boat Show by Greg Nicoll with Frank Leffelaar and Friends,


Are you ready to enter that marina? by Captain John Jamieson, Florida












Remember to properly dispose of obsolete distress beacons by Australian Maritime Safety Authority,




World ARC fleet bids farewell to Bali by World Cruising Club,
















World ARC crews in Bali by World Cruising Club,


Could your sailing navigation use a tune-up? by Captain John Jamieson, Florida












The Boat Cookbook by BoatBooks,










World ARC fleet now arriving in Bali by World Cruising Club,






EU Naval flagship- frigate assist yacht twice maydays in pirate zone
An offer a Galley Guy cannot refuse
Dinghy Safety - More to think about
World ARC fleet to enter Indian Ocean for the first time
What can you do to prevent electrocution and ESD?
Pack this sailing gear for 'hands-free' lighting
Salty Dawg Rally Seminar Series planned October 8 in Annapolis
Europe tightens up on skippers competency certification
World ARC fleet departs Darwin under full sail
NOAA expedition discovers ship’s timepiece silent for nearly 200 years
Blue Planet Odyssey - Northwest Passage gate opens
A Cruising Guide to the Dominican Republic 6.0 now available
BNS Leopold I to commence counter-piracy operations
Africa Europe Challenge introduces 'Spectator's Package'
Wanted youth circumnavigators on a 'Voyage of Imagination'
Niagara-on-the-Lake, a popular cruising destination in Canada
The crowd-pleasing comforts of catamaran cruising
Death by Dinghy
'Sailing Stones' of Death Valley seen in action for the first time
Coast Guard searching for two boaters near St. Petersburg
20 coral species listed as threatened under the Endangered Species Act   
Shanghai to San Francisco in under 2 hours via supersonic sub   
PSP Southampton Boat Show 2014 - 2 for £24 ticket offer ends soon   
A case of crossed wires? A shocking situation!   
How amazingly awe-inspiring the Arctic really is   
New atlas provides thorough audit of marine life in the Southern Ocean   
European Odyssey boats arrive in Lanzarote + Video   
Multiagency rescue at Dunraven Bay + Video   
Canal Boating in the Alsace with the Galley Guys   
World ARC fleet arrives in Darwin   
Dangers of the Dinghy trip back to your boat   
European Odyssey visits Porto   
Timeless Tonga - Charter sailing in a Polynesian paradise *Feature   
A fine conclusion to the ARC Baltic 2014   
Where in the world are our strongest corals?   
Baltic 4 Nations fleet arrive into Stralsund City Marina   
Huff of Arklow nearing completion, expected on the water next month   
Incredible efforts to save yacht from being lost at sea   
ARC Baltic fleet visit six countries and six capitals in six weeks   
Helen Island, Palau -a beautiful and unique place   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph, contact the photographer directly.
XLXL NEW CRU NH
LocalAds   DE  ES  FR  IT