VAT

Attracting the high society for decades, the Amalfi Coast is glamorous, fun, beautiful...and perfect for yachting.

It seems as though tax regulations and laws are being added, changed, or repealed all over the world this year. Here are a few things you may want to note before you plan your next cruise.

Will yacht charter clients be forced to pay Value Added Tax (VAT) this summer on the Côte d’Azur? If yes, then how much will the VAT be? We asked Claude Niek, CEO of Cannes-based CSO Yachts and a member of the Mediterranean Yacht Brokers Association (MYBA) Tax Committee to give us his best guess before a decision comes (all hope) in time for the charter season.

For the rare uninitiated, VAT is Value Added Tax. For the past few years, more and more countries facing a shortage of revenue have put charter yachts under a microscope as potential sources of additional funds and began collecting VAT on charter fees.