Big VAT Increase For Greece Yacht Charter Fleet Takes Effect

HIGHER VAT RATE

A new, higher VAT (Value Added Tax) rate went into effect.  All charters that commenced after July 20, 2015 in Greek waters are subject to the tax.

Greek yacht charter vessel at anchor

LEGISLATION

The new legislation raised the overall VAT from 13% to 23%. Specifically, lower rates apply to certain charters, based upon the duration of the hire.

There are two VAT categories for charters lasting 3 days or longer:

• Category I – vessels licensed to perform international cruises: 9.2% (previously 5.2%).
• Category II – vessels licensed to perform long range cruises within Greek waters: 11.5% (previously 6.5%).

SHORT-TERM CHARTER APPLICABILITY

For charters up to 48 hours, there are no discounted rates.  Full VAT of 23% is due (previously 13%).

Jana Sheeder, President of 1-800 Yacht Charters, points out the new VAT rates affect ALL charters taking place after July 20, 2015 – even if the charter agreements were signed in prior months.  “With the current economic crisis in Greece, we’ve been anticipating  some form of VAT austerity,” says Sheeder. “With each charter agreement we prepare, we add a clause indicating that the charterer is responsible for any increase in VAT – this way, there are no surprises.  The more details we cover with our clients, the smoother their Superyacht Experience will be.“

QUESTIONS FOR VISITORS

How will the increase in VAT on private luxury yacht charter vacations in Greece effect the number of yacht charters? 

Will clients seek alternate destinations or, “grin and bear it” to enjoy a Greek yachting holiday?

FREE GIFT WITH YOUR ANSWER

Let us know your thoughts.  We will share your comments with our readers AND send you a free complimentary Eco-tote bag!  Email your comments (and your mailing address!) to info@1800yachtcharters.com

This entry was posted in Educational News and tagged Q & A, motoryacht charter, Greece, Mediterranean yacht charter, Eastern Mediterranean yacht charter, VAT value added tax, eco-tote, greece yacht charter, free gift, sailing yacht charters

About Jana Sheeder

Jana Sheeder, President of 1-800 Yacht Charters. Providing The Superyacht Experience(R) since 1976. Private luxury yacht charter vacations in the Mediterranean, Caribbean, Bahamas, South Pacific, South Florida, Miami and The Keys, Italian Rivera, Belize. Megayacht charter company focused on generosity, Pay it Forward, Random Acts of Kindness, Giftivism, giving back to the ocean, to the needy, and the environment with every superyachting charter. Providing eco-friendly alternatives while on yacht charters and known for 6-star customer service, experience, and generosity. One of the original yacht charter companies.
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