NEWS

SOS Group is proud to announced that they have been appointed the official distributor the FLYN products. Based on the AIS positioning system, FLYN has developed a Tracking system that follows the yacht from the beginning to the end of the cruise and calculates the time

SOS Yachting is proud to announce the launch of the new edition of the VAT Smartbook.

For six years we have launched this Smartbook aiming to give our clients a “smart” and handy overview of fiscal rules and regulations that govern the Superyacht charter sector in the EU.

The Union status of a yacht will be kept if a yacht was located within the EU territorial waters on midnight of December 31st, 2020. If the yacht was out of the EU on/after January 1, 2021 is brought back to the EU and fulfills the conditions to be considered under the ‘Returned Goods Relief’, then it can be declared to Customs as such and preserve its VAT status or import the yacht.

During the past three weeks our Operation Managers from Croatia, France, Italy and Spain have hosted 13 online fiscal trainings presented to our loyal clients. SOS Yachting is organising fiscal trainings to its clients in Europe and United States at the beginning of the season each year to meet, exchange opinions and give an updated on the latest local regulations.

Many of you will have heard lately about Melilla and Ceuta, and the Canary Islands, two Spanish regions which are outside the VAT territory. Everybody knows where the Canary Islands are, but for the ones who do not know where to find Melilla and Ceuta just look for them on the Northern Coast of Africa, in front of Gibraltar.

We guide you thought the process.

How does the French Commercial Exemption work?

SOS Yachting’s Fiscal trainings ready for you and your team!

We guide you thought the process.

The VAT registration in Spain takes longer than in other countries. Do you know why?

Stay tuned for more!

The Ministry of the Sea, Transport and Infrastructure has communicated the decision to stop issuance of Croatian cabotage license to all NON EU flagged vessels with the registered length below 24 meters, and a consequence of this decision is suspension of all charter operations in Croatia for vessels that fall under this category.

Given the health crisis linked to the Covid-19 and the limited chartering opportunities in 2020, the French Tax Authorities stated that, in 2020, for yachts that have not been able to operate commercially (charters or transport contracts) as well as for yachts that have been operated commercially in 2020 and did not comply with the 70% rule, the following would apply:

The SOS Yachting team is taking some time off ☀️😉 We would like to wish all our clients, colleagues and friends Happy Holidays!

SOS YACHTING hosts their annual company meeting each year, a milestone on the growing of our group, to make a point on the season that just ended and making plans for the next one in order to be able to provide more satisfying support to our clients.

Italian Budget Law 2021 will contain a simplification of the procedure to apply the VAT exemption regime for yachts cruising in high seas.

We are pleased to inform you that the draft of the Italian Budget Law 2021, that will enter into force at the beginning of January 2021 upon approval by the Italian Parliament, is now under discussion. The Italian Budget law will contain a specific rule to simplify the procedures currently in place for the so-called ICE*

We guide you through the process.

Can you recover VAT paid on Italian suppliers’ invoices?

Stay tuned for more.

We guide you through the process.

How to apply Croatian VAT on a charter contract if the charter includes a NON-EU country?

Stay tuned for more.

SOS Yachting is participating with a stand at the first virtual boat show in the Balearics. From November 18th until 20th our operations manager Alessia Manfredi from SOS Yachting Spain will be available to discuss the latest fiscal rules and regulations in Spain and what services we can offer clients willing to carry out charter business in the Med.

The French Official Tax Bulletin published on Friday 6th 2020 announced the end of the VAT lump sum reduction in France, with retroactive effect BOI-TVA-CHAMP-20-50-30, para 40 (https://bofip.impots.gouv.fr/bofip/1490-PGP.html/identifiant=BOI-TVA-CHAMP-20-50-30-20201106)

Provision no. 341339/2020 issued by the Italian Tax Authority (AGENZIA DELLE ENTRATE) on October 29th, clarifies the means of proof necessary to prove the effective use of the vessel outside the Union territory in order to apply 22% Italian VAT on long and short term contract executed from November 1st and onward.