Directive 1240/31-12-2018 on charter VAT exemptions

 In Legislation

VAT exemptions for all commercial yachts, irrespective of flag, under a Greek charter license.

A new directive was published on December 31st with further clarifications on the “trips at the open sea” definition in order to maintain the VAT exemptions benefits. A yacht to retain VAT exemptions must prove that 60% of the charter activity is performed at the “open sea”.

As “open sea” is defined the 6-mile zone out of the coastal waters of the departure port i.e. 6 miles from the mainland coastline if the departure port is in the mainland or from the island coastline when the departure port is in an island.

 

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