VAT in Greece on boat purchase

[spencerd]

I have just read an article on VAT for a boat purchase http://www.greg-yachts.com/buying.php and I'm confused after agreeing to pay VAT at a down-written rate. Did I need to pay tax??????
I was informed that a Brit could not own a Greek flagged yacht or it was made extremely difficult and expensive.
Any help would be appreciated.

 

[Steve C Cronin]

See pm

 

[Tranona]

I have just read an article on VAT for a boat purchase http://www.greg-yachts.com/buying.php and I'm confused after agreeing to pay VAT at a down-written rate. Did I need to pay tax??????
I was informed that a Brit could not own a Greek flagged yacht or it was made extremely difficult and expensive.
Any help would be appreciated.

It really depends on the specific boat. If it is an ex charter boat being sold by a charter operator then VAT is payable on the sale value. If is a privately owned boat on which VAT has been paid there is no further VAT due. However wise to get good evidence that it has been paid. A charter boat may also be owned by a private individual and when it comes off charter VAT is payable on the written down value. I have a boat like that and it is important to keep the receipt for the tax.

Unless you are Greek or keeping the boat owned by a Greek company you have to remove it from the Greek registry. Straightforward if a bit slow but the seller should organize it. You can then register on the SSR if you qualify and keep the boat in Greece without any constraints.

Hope this helps.