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Regulations

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France & Monaco

VAT number, fiscal representation and fiscal agency in France and MonacoJune 2016

Do I need a French VAT number if I charter in France and Monaco?
Yes, you need to have a VAT number in each EU Member State where you intend to start charter activities. A French VAT number is good for Monaco.


How do I get a VAT number?

You must appoint a local fiscal representative/agent unless the yacht owning company has registered offices in France or Monaco. The fiscal representative will apply for a VAT registration number for the owning company as a non-resident trader. 

 

Why do I need to appoint a fiscal representative/agent?
The EU VAT Directive says VAT is due in the country where the charter starts (the ‘place of supply of the service’). If the owning company does not have offices in the country, there is no guarantee that the government will be able to collect the taxes due from the company. Non-resident traders must appoint a French or Monegasque company to act as their local representative regarding their fiscal obligations.


What does a fiscal representative/agent do?
A fiscal representative/agent acts as the local representative of the owning company. It guides the client and client’s representatives through the VAT process, managing filing obligations and compliances with the local tax authorities and provides operational guidance during the charter season. 

 

What is the difference between a fiscal representative and a fiscal agent?
In France and Monaco a fiscal agent acts for EU registered companies while a fiscal representative acts for non-EU registered companies. Appointing a fiscal representative is mandatory and the representative is jointly and severally liable for all VAT tax debts of the principal.