The European Union is presently engaging in further discussions on the application of VAT to yacht charters in France and in Italy.

The regime of reduced VAT will be affected and the application of the full 20% French VAT and 22% Italian VAT will be applicable to all yacht charters during summer 2020.

It is still to be confirmed whether charters signed prior to 1st April 2020 will be subject to the previous regime of reduced VAT, where applicable.

IYBA International Yacht Brokers Association MYBA The Worldwide Yachting Association  LYBRA Large Yacht Brokers Association  APSA Asian Pacific Superyachts Association  ECPY The European committe for professional yachting  GYA Greek Yachting Association