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evidence yachting grece tva charter

It is in accordance with the European Union’s directive (already applied in France and Italy) that Greece is introducing his new VAT rules. The VAT is now charged at full rate (24%) for the time spent in EU waters, and no VAT will be applicable on the time spent in international waters or non-EU waters.

Regulation is entering into force with immediate effect, meaning that a number of guests will be required to pay an extra 12% VAT on their already signed contracts.

Three tax brackets will be implemented and calculated as follow:

  • 24% Greek VAT on the charter rate – Applies now on charters taking place in Greek waters without going to non-EU or International waters (6 Nautic Miles from the coast)
  • 24% Greek VAT on the charter rate – With a deduction on time spent outside of EU waters or in International waters. All chartered days will be taken in to consideration in an accounting year.
  • 24% Greek VAT on 50% of the charter rate – For yachts spending at least 60% of their charter duration outside of territorial waters.

(Territorial waters : 6 Nm from the mainland and 6 Nm from the territorial waters of an Island).

Note : “Non-Greek flagged commercial yachts embarking and disembarking outside of Greek waters (ex : Albania to Albania or Turkey to Turkey) and passing through Greek territorial waters, should be charged 24% VAT on the time spent in Greece but could also benefit from the last of the three tax brackets.

With this in mind, it is for now really hard to figure out how authorities will implement the system and if it will be operational by next summer.

“Greece idea is to link yacht’s AIS systems to a government platform that will follow yacht movements calculate the VAT due” which could lead to :

  1. conflicts in case AIS or the Greek platform malfunction
  2. privacy issues
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