Provisioning VAT for Superyachts

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VAT can be a difficult subject to navigate - in 5 pages we give #superyacht captains everything they need to know about buying from a provisioner

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Provisioning VAT for Superyachts

  1. 1. VAT & TVA EXPLAINED A provisioners view of European VAT law
  2. 2. COMPLICATED but not impossible 2 Photo by jDevaun - http://flic.kr/p/8v1BBQ
  3. 3. WE PAY VAT • On everything we buy in FR • 2.1% on Magazines • 5.5% of Food • 20% on everything else • On everything we buy in UK • 0% on food • 20% on everything else
  4. 4. WE CHARGE VAT • On everything that we deliver: • In the UK • In France • Because: • We get inspected to make sure that we comply • We pay if things haven’t been done properly Photo by David Kracht - http://flic.kr/p/dm3USM
  5. 5. REMEMBER • VAT is the largest component of any bill • It is always much more than excise duty on alcohol • If you are VAT registered: • you can claim back VAT • we can deliver VAT free outside France Photo by antonychammond - http://flic.kr/p/cguFJ5
  6. 6. OUTSIDE FR • EU distance selling regulations stipulate: • If you are VAT registered, deliveries outside France can be zero rated • If you are not VAT registered we still need to charge you VAT
  7. 7. WORLDWIDE no VAT Photo by NASA Goddard Photo and Video - http://flic.kr/p/dyKu1P
  8. 8. –Benjamin Franklin “In this world nothing can be said to be certain, except death and taxes”

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