Full VAT on charters starting in Italy & France

 In Chartering, Legislation

Is it the end of the so called “lump sum reduction regime?

Italy and France decided to align their positions on the way they apply the reduction of the taxable basis in relation to the calculation of VAT applicable on charter revenues. It was made clear to the yachting industry that no more fixed lump sum reductions on the taxable basis will be accepted starting from 2020 for such vessels.
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