Charters starting in French waters to be subject to VAT

This week, the French Fiscal Authorities have published a “Bulletin Officiel des Finances Publiques” which puts an end to so called “French Commercial Exemption”. Sarting from the 15th of July, all charters starting in French waters will be subject to VAT at the full rate of 19.6%. This does not apply to charters signed before July 15th.

An official public instruction from the French authorities still has to be published regarding the interpretation and application of the new rules.

Italy is also expected to increase its VAT rate from 21% to 22%. This is due to happen on the first of July, but might be delayed.

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