DO NOT FORGET THE IMPORTATION FORMALITIES PRIOR TO THE 2021 SEASON
It is time to start thinking about which importation procedure you want to apply for your yacht this season.
As you may know, you have the choice, in order to import a yacht without disbursing the VAT on her value, between the French commercial exemption and the French reverse charge.
The fastest way to import a yacht under the VAT exemption based on the value and to also benefit from a VAT exemption on the purchases made within the scope of the commercial activity is to use the French commercial exemption procedure. The main drawback under this procedure is the obligation to abide by the 70% rule (70% of the trips outside of French waters). Please note that the year 2020 is not taken into account as regards 70% rule if such condition has not been met.
The alternative is the French reverse charge (available only for non-EU companies). Under the French reverse charge, there is no need to respect the 70% rule but the purchases within the scope of the commercial activity must be made VAT included.
There is also the possibility to import the yacht through a VAT payment on the hull.
We remain at disposal to help you with these procedures.
T: +33 (0)4 92 00 43 90
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