VAT??

[ELRIKA]

I am considering buying a boat outside the EU to live on for 3 to 5 yrs whilst we travel around the world. Will I have to pay VAT on the boat if I enter EU waters? If so are there any exceptions that you may know of?



<hr width=100% size=1>

 

[snowleopard]

you will only have to pay vat if you keep the boat in the eu. i think the time limit is 18 months before you have to pay.

<hr width=100% size=1>

 

[chockswahay]

I have a similar question. If my brother who lives in the Middle East bought a boat and then I happened to buy it from him, do I have to pay VAT?

Also I have been told that if I buy a boat in the UK and then sail 'overseas' within 3 months I can claim back (not pay) the VAT, then when returning to the UK I would have to pay VAT on the value of the boat at that time.

Does anyone have any more info in this subject?

Cheers

G

<hr width=100% size=1>

 

[charles_reed]

Each country in the EU interprets the VAT rules according to their own whims.

Yes, you do have to pay VAT on any boat brought permanaently into the EU. Most countries give you 6 months grace before the vessel is deemed to have been imported, some even give 12, if the boat is registered in a non-EU country.

This tax is based upon the putative value of the boat at the time of importation. The authorities usually estimate the value of the boat for themselves, though a recent invoice can be used as evidence.

If the boat is more than 20 years old, it is possible to avoid VAT, though this varies from country to country.

Jame Jermain posted an excellent summary of the subject about 3 years ago on one of the other ybw BBs.

<hr width=100% size=1>