Editorials
Posted March 22, 2012, 3:26 p.m.
A Tax Attack – Confusion abounds! By Declan O’Sullivan The EU Commission has found the French Exemption illegal and told the French government to change it. Is the end finally in sight for Spanish Matriculation Tax? Italian leases under challenge. Association between Flag /registration and VAT status confusion. Commercial yachts and VAT exemption. Dutch Commercial yachts and VAT exemption. FRENCH EXEMPTION Since 1993 the authorities on the French Mediterranean coast have exempted commercial yachts from VAT. This exemption is not in line with the EU VAT directive and was only effective locally. Despite this, it was availed of by many ...
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Posted March 21, 2012, 3:56 p.m.
A TAX ATTACK - Who needs a Big Brother? - By Declan O’Sullivan The relationship between the Isle of Man and its “Big Brother”, the UK, has always been an odd one. Whilst nominally declaring its “Independence” and evidencing the same by making its own laws through the oldest continuous parliament in the world, called “Tynwald” the reality of the relationship for the Isle of Man, is far from that notion of Independence. The relationship is in reality Big Brother – little brother. The Isle of Man, whilst not part of the EU has free access to trade in the ...
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Posted March 21, 2012, 3:11 p.m.
A TAXING TIME – The Perils of Yacht Ownership in the EU By Alex McBarnet and Adrian Jones “In this world nothing can be said to be certain, except death and taxes.” (Benjamin Franklin) Yachts are often referred to as very expensive toys but even those used purely for private/pleasure purposes are almost always owned by bodies corporate (limited companies, partnerships, etc). There are three principle reasons for this: legal liability, operational management and fiscal efficiency. Yachts can generate potentially huge legal liabilities that may exceed or not be covered by insurance. The responsibility for these liabilities lies with the ...
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Posted Feb. 12, 2012, 2:17 p.m.
Calendar of Events (2012) Feb 15 -18th Millenium Cup, Auckland, NZ Feb 16-20th Miami International Boat Show Feb 17th Wobbly Race Antigua Feb 23-26th Mumbai International Boat Show March 12 -15th Seatrade - Miami March 13 -17th Dubai International Boat Show March 14 -17th BVI Caribbean Superyacht Regatta and Rendezvous March 22-25th St Barths Bucket Regatta March 22-25 Palm Beach Boat Show March 29 - 1st April – Pimex Phuket Boat Show April 12-15th Antibes Boat Show, France April 19- 24th Antigua, West Indies - Antigua Sailing Week April 19- 21st Deluxe San Diego Yacht and Lifestyle Event April 27 ...
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Posted Dec. 2, 2011, 10:11 a.m.
SuperYachtWeb the online resource for the SuperYacht Industry will be launched officially during February 2012. Superyacht Web is made up of over 108 individual websites, all linked together and all titled under a generic search term for the Superyacht industry. We look forward to your company joining with us in 2012.
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Posted Dec. 2, 2011, 10:01 a.m.
I was asked recently if there were any organisations that had published a set of rules for superyacht Owners in order that they could better understand how ‘they’ should operate their vessel, and also the regulations that they should be aware of. In fact there isn’t a set of rules available, although their yacht employs a professional Captain who should be able to provide guidance if asked. Having spoken to our erstwhile publisher he agreed that maybe we ought to produce a short article setting out at least some rules for Owners. What follows is only a guide and will ...
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Posted Dec. 2, 2011, 9:54 a.m.
By Alex McBarnet and Adrian Jones “In this world nothing can be said to be certain, except death and taxes.” (Benjamin Franklin) Yachts are often referred to as very expensive toys but even those used purely for private/pleasure purposes are almost always owned by bodies corporate (limited companies, partnerships, etc). There are three principle reasons for this: legal liability, operational management and fiscal efficiency. Yachts can generate potentially huge legal liabilities that may exceed or not be covered by insurance. The responsibility for these liabilities lies with the owner and any and all other assets of the owner may be ...
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