END OF THE 50% FRENCH VAT REDUCTION ON CHARTERS CROSSING INTERNATIONAL WATERS
A ruling from the French tax authorities has been published on November 6th 2020. It states that the automatic 50% VAT reduction applicable to charters starting from France and crossing international waters is not applicable any longer.
This ruling also states that the vessels will still be able to benefit from a VAT reduction but only for the time spent in international waters or outside EU waters.
For vessels equipped with an AIS system, the latter will be used to determine the time spent outside EU waters and thus for the calculation of the VAT reduction.
For vessels under 15 meters, the calculation will be made from the contractual terms or the logbook.
Do not hesitate if you have further questions as we remain at your disposal,
+33 (0) 492 004 390
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