The tax would allegedly increase the price for commercial yachts fueling up in France by 47 cents per litre and some feel that this would have a significant influence on where yachts choose to fuel up in the Mediterranean.
Lobbying on behalf of the European Committee for Professional Yachting (ECPY), and the wider industry, Thierry Voisin Is currently in discussions with the custom and tax authorities and assures that there is no change for the time being.
“What I am requesting from the authorities is that it is too late to enforce it for this season, but that if it is enforceable, to enforce it in 2016,” he explains. “Whether they will listen or not I do not know. We are doing it on behalf of the industry and very soon we should have some announcements.
“Everybody is trying to find a solution. There might be a solution for non-EU vessels to get duty free fuel but this will not help the EU-flagged vessels. So it is going to be a real mess.”
The pressure is coming from the European Commission, whose task it is to police the EU’s tax rules in the interests of maintaining a level competitive playing field across 28 Member States, which resulted in France modifying the finance law last year. Because the pending tax is a custom tax, unlike VAT, it is up to the custom office to decide how it will be implemented. Until the custom office come up with an official decision, therefore, this taxation is pending.
This year's Superyacht Management Meeting: Fiscal, will be taking place in Monaco on 28 April. This event represents a new frontier for the industry, where key stakeholders will assemble to affect genuine change for superyacht the industry.
For event information please contact Clara Saladich, Event Coordinator, by emailing firstname.lastname@example.org or calling +44 (0) 207 924 4004.
For sponsorship opportunities please contact Roland Archdall, Commercial Director, by emailing email@example.com
If you've found this story to be 'a report worth reading', and you would like to enjoy access to even more articles, insight and information from The Superyacht Group, then you may well be interested in our VIP print subscription offer. We are inviting industry VIPs to register for a complimentary subscription to our print portfolio, which includes the most insightful information on the state of the superyacht market. To see if you qualify for our VIP subscription package, please click here to fill in an application form