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Big VAT Increase For Greece Yacht Charter Fleet Takes Effect

A new, higher VAT (Value Added Tax) rate went into effect for all charters that commenced after July 20, 2015 in Greek waters.

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The new legislation [N.4334 (??? ?’ 80/16-07-2015)] raised the overall VAT from 13% to 23%, however, 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%).

For short term charters, up to 48 hours, there are no discounted rates, and 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.

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QUESTION TO YOU:  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?

Let us know your thoughts, and 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

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About Jana Sheeder

1-800 Yacht Charters. Providing The Superyacht Experience since 1976. 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.

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