The Superyacht Charter market still faces grey areas and one of those is the uncertainty over VAT and the way different countries deal with it
In 2010 the Italian authorities arrested some Italian owned yachts with accusations of unpaid VAT.
Most of those arrests were ultimately proved to be unfounded once the matter had been presented before a court and all of the evidence examined.
The yachts were subsequently released and it became clear that the authorities themselves were not always applying or interpreting the law in the same manner.
Some of the yachts are still being held with complex legal procedures still underway. This year there are ongoing fears concerning major changes to the VAT regulations regarding charters in France.
As far as can be ascertained, there are no implications for this summer season but it cannot be ruled out that French charter regulations may change in the near future.