HOW TO PAY VAT ON YOUR TENDER ?

Jun. 14, 2022 |  Customs & Tax - Blog - 



We wanted to remind you the new procedures in order to pay VAT and customs duties (if less than 12 meters) on a tender.

The procedure differs depending on the type of ownership of the yacht.

  • If the boat is owned by an individual (natural person):

We need to determine the value of the yacht with a recent survey or a recent purchase invoice (less than 6 months)
It is possible to use a surveyor who will determine the value (he must be established in the European Union).
This value will be used by the customs to calculate the VAT and the customs duties (20% for the VAT and 1.7% for the duties in France). The VAT is calculated on the price of the tender + the duties (1.7%). In other words, VAT is also paid on the duties.
Once the money is wired to the customs, you will receive the customs declaration meaning that the yacht is now VAT paid and duty paid.

  • if the tender is owned by a legal person:

The same procedure as above will apply but only to pay the customs duties, the VAT will need to be paid through your tax representative after the importation declaration has been filed. Which means that the tender will only be considered VAT paid once the tax declaration has been filed and VAT paid the month following the importation. Please check with your tax representative for more details on this procedure.

Do not hesitate to contact us if you have any questions.
T: +33 (0) 492 004 390
E: info@ymca-yachting.com


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