sail-world.com
 
 
News Home Video Gallery Photo Gallery
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.







News - USA and the World

Team GBR’s Sparky on the Road to Rio (Part Two) *Feature by Rob Kothe and the Sail-World Team,


Team GBR’s Sparky on the Road to Rio (Part Two) by Rob Kothe and the Sail-World Team,
















Team GBR on the Road to Rio (Part One) by Rob Kothe and the Sail-World team,
















































ISAF Sailing World Cup Hyeres - Sailors tweet about opening day
49er Blog: Glorious racing to kick start Hyeres World Cup
Clipper Round the World Yacht Race - Continuous close racing
ISAF Sailing World Cup Hyères - Fluttering flags whet sailors appetite
Antigua Classic Yacht Regatta - Race 4 images by Jude Robertson
ISAF Sailing World Cup Hyeres - US Sailing Team Sperry Top-Sider Day 1
ISAF Sailing World Cup Hyeres - Day 1 Nacra 17 images by Thom Touw
ISAF Sailing World Cup Hyeres - Day 1 Laser images by Thom Touw
ISAF Sailing World Cup Hyeres: Ioannis Mitakis leads Finns after day 1
RC44 Cascais Cup - Fresh faces join the line-up
ISAF Sailing World Cup Hyeres - Excellent racing on opening day
ISAF Sailing World Cup Hyeres - Images by Yvan Zedda and Franck Socha
ISAF Sailing World Cup Hyeres - Day 1 images by Franck Socha
Hyeres World Cup: Kiwis lead but Outteridge Jensen back in 49er fray
Belcher and Ryan lead from the start in Hyeres
ISAF Sailing World Cup Hyères - Race day 1 ready for lift off
Clipper Round the World Race 11 - Tense match downwind racing on Day 2
Antigua Classic Yacht Regatta - Day 3 an absolute gem
Quantum Key West 2015 dates confirmed
Flying Tigers 'Psych' - on Lake Lanier they pronounce it Zhik
ISAF Sailing World Cup Hyeres: Anticipation intensifies as start nears   
Clipper Round the World Race - Race 11 start images by Chuck Lantz   
27th Antigua Classic Yacht Regatta 2014 - Big breeze on the butterfly   
Rolex China Sea Race 2014 - Pryde and Joy for Hi Fi   
Clipper Round The World Race - A flying start on Day 1 of Race 11   
Cammas on Caudrelier – different styles, same objective   
Clipper Race - Californian crew member continues fundraising journey   
Antigua Classic Yacht Regatta - Race 2 images by Jude Robertson   
Les Voiles de St Barth - Images by Christophe Jouany   
Clipper Round the World Yacht Race - Fleet sets sail in race 11   
Congressional Cup - Canfield and Team US One best star-studded field   
Clipper Round the World Yacht Race - Race 11 to get underway to Panama   
Antigua Classic Yacht Regatta - Race 1 images by Jude Robertson   
Rolex China Sea Race - Hi Fi collects the coveted IRC Overall title   
Rolex China Sea Race - First arrivals in Subic Bay   
Rolex China Sea Race 2014 - a sniff of a hat-trick for Neil Pryde   
America's Cup Book Review: Winging It - Oracle Team USA's comeback *Feature   
Clipper Round the World Yacht Race: Switzerland drops trou for charity   
Rolex China Sea Race 2014 - nip and tuck for IRC honours   
Antigua Classic Yacht Regatta - 27th edition underway   


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.
X6XL NEW US