{"id":17514,"date":"2023-03-07T16:55:38","date_gmt":"2023-03-07T15:55:38","guid":{"rendered":"https:\/\/www.easytax-international.com\/?p=17514"},"modified":"2023-03-09T10:46:11","modified_gmt":"2023-03-09T09:46:11","slug":"vat-event-monaco-yacht","status":"publish","type":"post","link":"https:\/\/www.easytax-international.com\/en\/blog\/news\/vat-event-monaco-yacht\/","title":{"rendered":"MIPIM and the Monaco Grand Prix: VAT exemption on charters"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17514\" class=\"elementor elementor-17514\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-6ee360f single-post elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ee360f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c3e871e\" data-id=\"c3e871e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d7d0825 single-article elementor-widget elementor-widget-text-editor\" data-id=\"d7d0825\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 23-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>As part of the yachting industry (whether you are a company director, charter manager, captain, broker, etc.), it is common knowledge that <strong>a yacht which complies with the <a href=\"https:\/\/www.easytax-international.com\/en\/guides\/commercial-vessels\/\">French Commercial Exemption (FCE) conditions<\/a>&nbsp;can benefit from VAT exemption on goods and\/or services<\/strong> <strong>purchased in France<\/strong> for its commercial activity.<\/p>\n<p>In addition, <strong>during major events such as MIPIM, Grand Prix Monaco or Cannes Lions International,<\/strong> <strong>a MYBA charter contract can be drafted without VAT.<\/strong><\/p>\n<h2>How a charter can benefit from VAT exemption during the MIPIM or the Cannes Lions International ?<\/h2>\n<p>To benefit from this option, <strong>the charterer that hires the vessel must resell a service to his own clientele.<\/strong> For example: an event company which hires a yacht during the Monaco Grand Prix and welcome on board customers attending the event.<\/p>\n<p>In order for this exemption to apply, <strong>the charterer must have a commercial contract with the end users<\/strong> showing that the vessel is being hired for commercial purposes.<\/p>\n<blockquote>\n<p>BOI (BOI-TVA-CHAMP-30-30-30-10): the VAT is due in France on charters for recreational purposes but not if the vessel is chartered for commercial reasons with an established remunerated\/gainful activity behind.<\/p>\n<\/blockquote>\n<p>Remember that, in order to ensure full compliance, the correct wording must appear on the contract:<\/p>\n<blockquote>\n<p>&nbsp;The contract is exempt from VAT according to article 262 II-2 of the French tax code.<\/p>\n<\/blockquote>\n<p>In order to benefit from this option, <strong>the yacht must meet the FCE conditions<\/strong> set out in <em>Article 262 II of the French General Tax Code<\/em>:<\/p>\n<ul>\n<li>The yacht is commercially registered,<\/li>\n<li>The yacht has a permanent crew,<\/li>\n<li>The yacht is engaged in commercial activity,<\/li>\n<li>The yacht is at least 15 meter long,<\/li>\n<li>The yacht left French territorial waters for at least 70% of the trips carried out during the previous calendar year.<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>With the fast-approaching Spring and Summer 2023, major events in France start seeing the light of day. Did you know that a MYBA charter contract can be exempt from VAT during these events? Be careful though: not all yachts are eligible for this option.<\/p>\n","protected":false},"author":5,"featured_media":17517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-17514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vat-yachting-news"],"_links":{"self":[{"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/posts\/17514"}],"collection":[{"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/comments?post=17514"}],"version-history":[{"count":21,"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/posts\/17514\/revisions"}],"predecessor-version":[{"id":17636,"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/posts\/17514\/revisions\/17636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/media\/17517"}],"wp:attachment":[{"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/media?parent=17514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/categories?post=17514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.easytax-international.com\/en\/wp-json\/wp\/v2\/tags?post=17514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}